DLA Piper advised AP1 in the establishment of the joint venture with Elo Mutual Pension Insurance (Elo) and Trevian Asset Management (Trevian) and its acquisition of approximately € 160 million real estate portfolio.

Elo, AP1 and Trevian have agreed to establish a joint venture company which invests in the Finnish real estate market. The joint venture will focus on commercial real estate, mainly city centre retail and office properties in major cities with good growth prospects primarily outside Helsinki area.

The joint venture will start with a portfolio worth approximately € 160 million. The aim is to actively seek further investment opportunities to significantly expand the portfolio size in accordance with the investment strategy.

DLA Piper team included partners Anders Malmström (Stockholm) and Ilkka Liljeroos (Helsinki), tax partner Erik Björkeson (Stockholm), tax counsel Jaakko Klemettilä (Helsinki), counsel Valtteri Vimpari (Helsinki) and associates Petros Vardanian (Stockholm) and Antti Eeva (Helsinki).