Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TALLIN, ESTONIA-Helsinki-listed Finnish developer Technopolis has expanded into Estonia in a joint venture with Tallinn-based Smart City and its subsidiary Ülemiste City, which holds a 753,000-square-foot property portfolio valued at $86 million.

Technopolis will acquire a 51% stake in a JV to be set up by Smart City, with Ulemiste holding 49%. The new company, Technopolis Ülemiste, will hold the property which is located next to Tallinn Airport, including about 506,000 square feet of modern office buildings. On completion of the deal, expected in June, Technopolis-Ulemiste will become part of the Technopolis Group, and will hold about 10% of the Tallinn office space market.

Technopolis Chairman Pertti Huuskonen commented: “Technopolis Ülemiste will be our first international acquisition and lays an excellent foundation for further growth in Estonia. The Technopolis growth strategy calls for establishing operations in two-three new countries outside Finland by the year 2014.”, Technopolis provides business and development services for knowledge-intensive companies and organisations, and has centers in Espoo, Jyväskylä, Kuopio, Lappeenranta, Oulu, Tampere and Vantaa in Finland, and St. Petersburg in Russia.

Allan Saundersonis a managing editor of Property Investor Europe and a contributor to GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.