12.1.2022

EY – New Headquarters in Central Helsinki

We advised EY in an agreement with Sirius Capital Partners on the development and lease of new headquarters at Korkeavuorenkatu 32-34 in central Helsinki. In connection with the long-term lease agreement for the property, EY and Sirius also agreed on an extensive refurbishment and development project in which the building will be totally renewed and modernised and extended by two new floors. The renovation works will emphasise sustainability and environmentally friendly solutions, and the property aims at its completion to fulfil the requirements of a LEED platinum certificate. The new office is in line with EY’s goal to globally achieve net zero carbon dioxide emissions by 2025. EY is expected to move into their new headquarters during the summer of 2023.

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