13.10.2020

eQ Residential Fund – Acquisition of Residential Apartment Building to be Constructed in Helsinki

We assisted eQ Residential Fund in its agreement with Bonava Suomi Oy on the construction of a 43-apartment residential building to be constructed in Laajasalo, Helsinki. The construction work began immediately, and the apartments will be ready by the end of 2021. The building is located in a block focused on creating a pleasant living environment both inside and outside the home. The centre of the block will be a courtyard designed to support many kinds of communal activities. The block is being built on the plot of the old Laajasalo shopping mall.

eQ established its residential fund in May 2020. The investment capacity of the fund will be over 300 million euros.

Latest references

We assisted Nrep in the development of a residential building that will be built adjacent to the Arabia Shopping Centre in north-eastern Helsinki. Our assignment included assisting in a financing arrangement for the residential building, together with corporate and real estate arrangements related to the project. This involved restructuring through share transactions and a demerger, a zoning change, a change of plot division, a joint arrangement, and a management division agreement. The new 16-storey residential building will consist of 188 Juli Living rental apartments and additional business premises on the street level. Once completed, the building will be one of the most energy-efficient residential buildings in Finland. The financing arrangement complies with Nrep’s sustainability targets. LEED Platinum certification will be applied for the project, while the previous two LEED Platinum certificates for residential buildings have been awarded to Nrep’s Herttoniemi and Friisilä sites.
Case published 28.10.2024
We are acting as the lead counsel to Fortum in a cross-border transaction in which Fortum is selling its recycling and waste business. The business is sold to thematic impact investing firm Summa Equity through its portfolio company NG Group. The debt-free purchase price is approximately EUR 800 million. The transaction is subject to authority approval and customary closing conditions. Fortum’s recycling and waste business to be sold comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. These businesses are located in Finland, Sweden, Denmark and Norway and currently employ approximately 900 employees.
Case published 18.7.2024
We assisted eQ Community Properties Fund in the sale of three healthcare and hospital properties to Niam. The properties have a total floor area of approximately 18,000 square meters. Two of the properties are located in Helsinki and one in Pori. Saukonpaadenranta 2 is a property in the maritime district of Jätkäsaari, with the private cancer hospital Docrates as its main tenant. Bulevardi 22 is a historical property where Mehiläinen, one of Finland’s largest private healthcare service providers, operates as the main tenant. The property in Pori, located in the heart of the city, has a lettable area of approximately 5,800 square metres and it is BREEAM Very Good certified. The property is fully leased to Terveystalo. 
Case published 5.7.2024
We advised funds managed by OP in a transaction whereby they sold two modern logistics properties to Logian. Logian is a joint venture between Keva and Mrec Investment Management Oy. The properties are located in Tuusula close to the Helsinki Airport, and their area is approximately 32,300 square metres in total. The properties hold the LEED Gold certificate with energy class A and feature solar panels that generate a significant share of the electricity used by the properties annually. 
Case published 3.7.2024