Nokia has completed the sale and lease-back of its head office building in Espoo, Finland to Exilion. The transaction was originally announced on December 4, 2012.
Early this month Nokia had agreed to sell and lease back its head office building in Espoo, Finland on a long-term lease to Exilion. The selling price is EUR 170 million.
"We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokia's core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis," Timo Ihamuotila, CFO, Nokia had said.
Nokia has operated in the building since 1997. The 48,000 m2 building, designed by architect Pekka Helin, is located in Keilaniemi, Espoo, Finland.