ICECAPITAL Real Estate Club I Ky, a newly established fund by ICECAPITAL Asset Management, has agreed with the Seafarers’ Pension Fund on the acquisition of nearly its entire commercial property portfolio and on the fund investment connected to the transaction. The arrangement marks the first closing of ICECAPITAL Real Estate Club I, with the Seafarers’ Pension Fund continuing as the fund’s largest investor.
The transaction comprises six commercial properties in Helsinki, Espoo and Turku, with a total leasable area of 27,000 m². The acquired portfolio includes, among others, Shopping Center Länsituuli in Tapiola, Espoo; Uudenmaankatu 16–20, a recently and thoroughly refurbished office property in central Helsinki, close to the Punavuori district; and Lintulahdenkatu 3, an office property in the Elanto block in Sörnäinen offering loft-style workspace.
The Seafarers’ Pension Fund’s participation is structured as a contribution in kind into ICECAPITAL Real Estate Club I Fund. Through the arrangement, the commercial property portfolio becomes part of the new fund, while the Seafarers’ Pension Fund remains invested through its position as the fund’s largest investor.
The fund’s strategy is to invest selectively in high-quality commercial properties located in central urban areas with value creation potential.