Company / History / Investment in Kasarmikatu 21 real estate
Investment in Kasarmikatu 21 real estate
Kasarmikatu 21 is a high-end office building located in Kaartinkaupunki, Helsinki. In 2014, Ahlström Capital and HGR Property Partners began negotiations with the City of Helsinki regarding the property at Kasarmikatu 21. The plan was to tear down the old building and build a new office building on the site with objectives to raise the profile of the Kaartinkaupunki neighbourhood and enliven the Kasarmitori surroundings. The construction work of the property began in 2016 and the building was completed in 2017. The building project was conducted in collaboration with Ahlström Capital, HGR Property Partners and YIT.
The project was an excellent example of a real estate development project where Ahlström Capital was as a partner involved from the very beginning. The building was fully let by the most prestigious tenants with exceptionally long lease agreements in advance of the project’s completion. Both as a development project and in financial terms, Kasarmikatu 21 was an exceptionally successful building project, raising the bar on quality criteria of office property to a new level.
In 2017, Kasarmikatu 21 was sold to CNP Assurances.