TK Asset Management’s year has got off to a good start
TK Asset Management has signed new leases and an asset management mandate
TK Asset Management Oy, which focuses on active local real estate asset management and investment clubs, has made a strong start during the first six months. Leases have been renewed with our current tenants and new agreements have been made for vacant premises.
One of our most interesting new tenants is Le Grec, a modern Greek bistro opening at our Rikhardinkatu location in the autumn. Its kitchen will be led by chef Arsenis Fourkiotis from another top restaurant in the centre of Helsinki.
In addition, we have started cooperation with Mandatum Asset Management Oy regarding a multi-use commercial property in Turku. We provide the real estate fund managed by Mandatum with a comprehensive local commercial and technical management service for this multitenant asset with over 35,000 m² of leasable premises and 130 tenants requiring a strong local presence.
Interesting investment opportunities in cash flow properties
The commercial real estate investment market has been record quiet in the early part of the year, reflecting the difference of opinion between buyers and sellers on the pricing of properties, and the caution of financiers.
However, we believe that the gap in pricing is narrowing, and together with our investor partners, we are actively looking for properties leased under a long-term lease that generate stable cash flow, which, if priced correctly, we believe offer an interesting return-risk ratio for long-term investors in the current interest rate environment.
With regards to investment clubs, we have had discussions with several interested investors and sourced potential investment opportunities.
Tenant demand for high-quality and flexible office space remains strong
The office market has changed significantly in recent years, and polarisation is clearly visible in this market as well. Centrally located, high-quality office premises suitable for the current needs of companies looking for new premises are in high demand, and rent levels in the best locations have increased steadily.
However, the requirements of potential tenants have also increased, and it may be difficult to rent properties in the wrong location or in basic condition, even at a low price.
We believe that tenant demand for high-quality and flexible office space will remain strong in the heart of Helsinki and other selected submarkets, and we are actively looking for new office development projects in the area together with our investor partners.
We wish everyone a very nice summer!
Best Regards,
Oskari Hartikainen
Partner, Tel. +358 50 331 0044
Kalle Hallanoro
Partner, Tel. +358 50 357 7675