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M&A & Private Equity, Real Estate & Construction / 25 Oct 2013

Borenius advised Technopolis in its EUR 77.5 million acquisition of the Falcon Business Park in Espoo, Finland

Borenius advised Technopolis, the listed real estate company, in its EUR 77.5 million acquisition of the Falcon Business Park in Espoo, Finland, from a fund managed by Aberdeen Asset Management, the global investment management group. Technopolis plans to integrate Falcon and Technopolis’ Innopoli campus into a single 60,800 sqm campus with a shared infrastructure, property management and services. The initial yield on the Falcon campus is estimated at 7.4% and the stabilized yield at 7.8%. The market yield is 7.0%. Technopolis will get a three-year rental guarantee on vacant space from the sellers. The guarantee will raise the effective financial occupancy rate to approximately 97% at the point of purchase and will gradually decline during the guarantee period. The company estimates that the Falcon acquisition will increase the Group’s net sales in 2014 by EUR 6.7 – 7.0 million and EBITDA by EUR 5.6 – 5.9 million.

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