We make profitable real estate investments. Our objective is to increase our number of quality investment properties and manage them responsibly.



Elielin liikerakennus achieves LEED classification

MREC Elielin liikerakennus is the first hotel property in Finland to achieve in-use LEED environmental classification. In addition to a hotel, the property offers office and retail premises.

Property’s energy consumption has decreased circa 10 per cent, and its carbon dioxide emission have decreased 293 tons compared with year 2011. Energy efficiency has improved based on the energy audit conducted in 2012. Operating and control times of the air conditioning and heating equipment in the property have been adjusted. In addition, lighting controls have been made more fit for their purpose. Water consumption in the property has decreased circa 20 per cent.

Electricity is being produced completely using renewable energy sources and free of carbon dioxide. This is proved by the guarantees of origin of green electricity achieved for Eliel for the years 2013 and 2014.

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  • Exilion has sold a major office property in Keilaniemi to a fund managed by Deutsche Asset Management

  • Exilion to agree on the purchase of the VR Group head office: A hotel to be developed at the premises


Exilion has sold a major office property in Keilaniemi to a fund managed by Deutsche Asset Management

Exilion Real Estate I Ky, managed by Exilion Management Oy, has today sold the property known as the former HQ of Nokia Corporation, comprising of two office buildings and a parking house in Keilaniemi, Espoo, Finland. The shares of the mutual real estate company were sold for approximately EUR 164 million to a fund managed by Deutsche Asset Management. The purchase price corresponds to a net initial yield of approximately 4.65 percent.

Object of the transaction, MREC Kiinteistö Oy Espoon Keilalahden ABCD-talot, owns the property located in the address Keilalahdentie 2–4, Keilaniemi, Espoo, comprising of two office buildings and a parking house built in 1996 and 1997. The office buildings have a lettable area of approximately 31,000 sqm and the parking house has approximately 1,250 parking spaces, of which 404 are in use of the neighbouring building. The property now sold is a part of the entity Exilion acquired from Nokia Corporation in 2012. One of the office buildings in the entity has already been sold by Exilion in 2014 in a transaction with a fund managed by AXA Real Estate.

“Executing the transaction is a natural part of reshaping our current real estate portfolio. The total investment in the entity of the properties has been excellent, and furthermore, we are genuinely pleased to find such a reliable and established new owner for the property, who will continue to develop the property in cooperation with the property users”, says Mr. Ari Talja, the managing director of Exilion companies.

Catella Property Oy and Aleksandra Attorneys Ltd acted as advisors to Exilion in relation to the transaction.

Further information
Managing Director Mr. Ari Talja, mob. +35850 5700 796


Exilion to agree on the purchase of the VR Group head office: A hotel to be developed at the premises

Exilion has agreed to purchase the VR Group head office located in the hallintorakennus (engl. administrative building) of the Helsinki Central Railway Station. The new owner will be Exilion Asemahotellit Ky, a limited partnership managed by Exilion Management Oy, and the company will renovate the building for Scandic Hotels Oy to be used as a hotel. Exilion Asemahotellit Ky is owned by Elo Mutual Pension Insurance Company, the State Pension Fund of Finland, and Veritas Pension Insurance.

The total value of the project will amount to approximately EUR 130 million. The hotel to be developed will cover an area of around 25,000 floor area and, with nearly 500 rooms, its capacity will be one of the largest in Finland. VR Group will vacate the premises in spring 2018, as the company will transfer its head office operations to the Iso Paja building owned by the Finnish Broadcasting Company Yle. After the move, the premises in the building will be renovated and converted to hotel use. According to estimates, the project will be completed and the hotel will be opened during 2020.

According to Mr. Ari Talja, Managing Director at Exilion Management Oy, they “have an exceptional opportunity to develop the center of Helsinki and the range of services available in the area through this unique historical environment. The Central Railway Station is also an internationally significant building, and creating a new type of use for this part of the building is a very interesting project that we think will be very successful when all the different parties work together. We are very happy to have reached an agreement with VR Group – the ownership of such a central and distinguished property fits well in our selective investment strategy.”

The investment deal now made is the second for the limited partnership company, the first one being the hotel development in Tripla project in Pasila. The limited partnership company’s involvement in the projects means that the company is currently developing two properties with approximately 900 hotel rooms, and total investment amounting to around EUR 220 million.

Further information

Exilion Management Oy
Managing Director Ari Talja, tel. +358 50 5700 796, ari.talja@exilion.fi