Nyfosa has announced the acquisition of the remaining 1.04% minority stake in Nyfosa Finland AB from Brunswick Real Estate, making Kielo a wholly owned subsidiary. The purchase price for the stake is approximately MEUR 12.6. As part of the deal, Kielo will assume responsibility for the portion of Brunswick’s organization that managed Kielo’s operations and real estate investments in Finland during their partnership.
The transaction is expected to close in the first quarter of 2025, with 14 employees transitioning to Kielo. Additionally, by terminating the existing management agreement with Brunswick, originally set to expire in 2028,
Nyfosa and Brunswick launched their Finnish operations in April 2021, aiming to build a approximately MEUR 600 property portfolio within five years—a goal achieved ahead of schedule. As of September 30, 2024, Kielo’s diversified portfolio, which includes offices, retail, and light industrial properties, is valued at approximately MEUR 700, focusing on university and regional cities in southern Finland.
In connection with the divestment of Kielo, Mathias Vuorelma will take on the role as Country Head for Brunswick’s operation in Finland. Hanna Rauhala will remain in her leading role in Kielo and Nyfosas operations in Finland.