International law firm Bird & Bird advised the Seafarers’ Pension Fund (Merimieseläkekassa, MEK) on ICECAPITAL Real Estate Club I Ky’s acquisition of nearly its entire commercial property portfolio and MEK’s investment into the ICECAPITAL Real Estate Club I fund.
The transaction comprised six commercial properties with approximately 27,000 square metres of leasable space located in Helsinki, Espoo and Turku. In connection with the acquisition, ICECAPITAL Real Estate Club I Ky completed its first closing, with MEK continuing in the role of the fund’s largest and anchor investor.
The mandate combined a significant portfolio divestment with a reinvestment into a newly established real estate fund structure, alongside related financing arrangements. The structure supported MEK’s strategic objectives while enabling ICECAPITAL Real Estate Club I Ky to establish a diversified commercial real estate platform focused on centrally located assets with value creation potential.
Bird & Bird advised the Seafarers’ Pension Fund throughout the transaction, including on real estate matters, tax structuring and financing negotiations. The firm’s integrated approach enabled seamless advice across disciplines within a single team.
The Bird & Bird team included Partner Ville Alahuhta (Tax), Counsel Tuukka Korhonen (Real Estate), Senior Associates Elina Kaartinen (Tax) and Joanna Puhto (Real Estate), and Senior Counsel Kristiina Lehvilä (Finance & Financial Regulation).
