A consortium of Finnish and South Korean institutional investors has acquired an office campus in Helsinki through a 480-million-euro ( US$530.83 million ) sale and leaseback.

Finland’s Varma Mutual Pension Insurance Company and South Korea’s NH Investment and Securities ( NHIS ), and Shinhan Investment Corporation have bought the headquarters of OP Cooperative, OP Financial Group’s central cooperative, in the Vallila neighbourhood of Helsinki.

It is the largest ever single-asset office transaction in Finland and the first-ever Finnish office acquisition by South Korean investors.

The consortium was led by Seoul-based AIP Asset Management and Helsinki-based Avant Asset Management, who acted as co-investment managers for the deal.