Slättö, a real estate investor focused on the Nordics, has acquired an office property in Finland from Catella Real Estate, with plans to convert it into an aparthotel.

This property is located in the Finnish capital of Helsinki, in the central business district.

The acquisition deepens Slättö’s reach in the country and aligns with its strategy to capitalise on the Nordic real estate market’s demand for affordable accommodation.

Slättö plans to carry out an extensive revamp of the property and lease it to hospitality company Bob W.

Upon completion, it will offer 99 hotel apartments.

The overhaul plans are comprehensive, including the renewal of HVAC systems to improve energy efficiency, window, roof, and parking deck repairs, and the installation of solar energy systems.

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By GlobalData

The goal is to achieve LEED Gold certification, reflecting a commitment to sustainability.

These renovations will begin in the first quarter of this year, with the aparthotel expected to welcome its first guests in the second quarter of next year.

The hotel will feature a variety of accommodations, including mini studios and one-bedroom units, each with a kitchenette.

Supermarket chain Lidl’s location on the ground floor will be retained.

The property’s central location offers various public transport links and proximity to the central station, catering to the needs of long-stay guests.

Slättö hotels head Erik Möller said: “The European and Nordic hotel markets are showing a strong performance, as travelling for short and long periods of time is increasing.

“There are significant value creation opportunities in apartment-hotel and long-stay properties that have high design standards and technology-driven operations.”