Finnish public sector pension provider Keva and Aktiivitilat have invested in a newly established a real estate investment company, with a focus on light industrial properties in Finland.

The new company, named Suomen Hallikiinteistöt Ky, will invest in light industrial and warehouse properties in the Helsinki metropolitan area, with potential future expansion to Tampere and Turku regions. The targeted investment volume is approximately €200m.

The new company will be Aktiivitilat's third venture in this real estate segment.
Aktiivitilat sold its first investment company, Aktiivihallit Ky, to an international investor in July 2024. Meanwhile, its second, Aktiivihallit II Ky, is focused on developing its existing properties.

Keva director of real estate investments, Carl-Henrik Roselius, said: "Keva has previously invested successfully in logistics properties. Aktiivitilat provide expertise in this higher-yield but labour-intensive segment of light industrial and warehouse facilities enables us to expand our investment horizon.”

Adding to this, Aktiivitilat CEO, Jukka Torvinen, said: “Experiences in the light industrial property market have been very positive. Occupancy rates have remained high, and we are still able to find attractive investment opportunities.

"Energy renovations, repair needs, and short lease terms highlight the need for a specialized company like ours. When combined with Keva's investment expertise, the joint venture is on a strong foundation.

“Finnish capital, an agile purchasing process, straightforward contracts, and strong industry expertise will be our strengths."

Aktiivitilat partner, Tapani Piri, suggested that industrial properties were a “continuously evolving” part of the investment market. Piri said that in recent years, industrial properties have become attractive investment targets but acknowledged that this development was still in its early stages.

“Individual properties are risky and small, but as a portfolio, industrial properties generate strong cash flow and predictability. This is evident in both investor demand and the financing opportunities for industrial property portfolios," Piri added.

The first investments of the new company are currently under review, and additional investment opportunities are being sought.

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