Ilmarinen invests in office property in greater Washington D.C. area

The landmark office property, completed in 2001, is located some 20 kilometres from Washington D.C. in Tysons Corner, Fairfax County, Virginia, an area known for housing a number of major American companies.

The investment was completed jointly with Tamares, a long-time investor and developer in the United States and Fairfax County real estate markets. The property was purchased from Gannet Company, the owner of, among other things, the USA Today news media. USA Today will remain as a significant tenant in the building on a long-term lease.

‒The office property with its vast land area is of the highest quality and offers Ilmarinen a great opportunity to further diversify internationally its real estate portfolio according to its strategy together with a locally experienced and competent partner, says Mikko Antila, the Portfolio Manager in charge of international real estate investments.

The building’s lettable area equals approximately 70,000 m².

Earlier this year, Ilmarinen reported that it had made investments in the United States housing market.