Lauri Ylönen

eQ’s residential fund Oivat Kaupunkikodit – Sale of residential portfolio to Catella European Residential III Fund

We advised Oivat Kaupunkikodit Ky, a fund managed by eQ, in the sale of a residential portfolio comprising four housing companies to Catella European Residential III Fund. The properties are located in central locations in Helsinki, Vantaa, Tampere and Turku and were completed between 2021 and 2022. The portfolio consists of 243 apartments and six commercial units, with a total lettable area of approximately 11,000 square meters. Furthermore, the SFDR Article 9 compliant residential portfolio will undergo significant energy efficiency improvement measures in the future, for example through new solar panel systems.

30.5.2024

eQ’s residential fund Oivat Kaupunkikodit – Sale of residential portfolio

We advised Oivat Kaupunkikodit Ky, a fund managed by eQ, in the sale of a residential portfolio comprising four housing companies to Sirius Capital Partners. The value of the portfolio is approximately 45 million euros. The properties are located in central locations in Helsinki, Vantaa, Tampere and Turku and were completed between 2021 and 2023. The portfolio consists of 251 apartments with a total lettable area of approximately 10,000 square meters. The properties also have a high ESG profile and are equipped with solar panels.

22.4.2024

Sagax – Acquisition of real estate companies

We advised Sagax in its acquisition of a portfolio comprising four real estate companies in Oulu. The buildings on the properties managed by the real estate companies were completed between 2018 and 2023 and are leased under long-term leases to Veho, Ahlsell and Onninen. The buildings have been constructed in cooperation with the tenants and thus perfectly meet their needs.

31.5.2023

Sagax – Sale and leaseback of MEKO AB’s central warehouse properties

We advised Sagax in a sale and leaseback transaction whereby Sagax acquired MEKO AB’s central warehouse properties in Finland. The target of the transaction encompasses six properties consisting mainly of industrial and warehouse premises. MEKO will continue to occupy the properties by virtue of triple-net lease agreements entered into in connection with the transaction. The transaction values the properties at EUR 36.5 million on a debt-free basis.

24.5.2023

Samla Capital – Luxury hotel project The Hotel Maria

We advise Samla Capital in the construction and development of The Hotel Maria and the related financing arrangement. The Hotel Maria is a first-class luxury hotel located in southern Helsinki that will open its doors at the end of 2023. The Samla Hotels fund (SC Hotels I Ky), managed by Samla Capital, will provide the investment required for the hotel. The investment budget is around EUR 116 million. The Hotel Maria will open as a member of Preferred Hotels & Resorts’ prestigious Legend Collection. This will be the brand’s first Legend hotel in Finland. The Hotel Maria consists of four buildings situated in a historic venue, and it aims to offer its customers an exceptional and modern luxury hotel experience.

13.1.2023

LänsiAuto – Sale of Opel Import in Finland and the Baltics

We are advising LänsiAuto in a transaction whereby LänsiAuto will sell its Opel import business in Finland and the Baltics to Auto-Bon Oy, a Bassadone Group company. In the same conjunction, LänsiAuto will sell the Opel dealership it opened in Tallinn earlier this year to AutoHalle OÜ of the Bassadone Group. LänsiAuto is the largest Opel retail dealer in Finland and will continue to retail Opel in Finland in the future as well. LänsiAuto and Bassadone have also agreed that LänsiAuto will become an authorised sales and service partner for Peugeot and Citroën in a number of municipalities in Finland. LänsiAuto is a Finnish automotive group established in 1978. Its turnover is approximately EUR 350 million for the financial year 2022. The group has imported and retailed Opel into Finland and the Baltics. In addition to Opel, LänsiAuto also represents, among others, Toyota, Kia and Mercedes-Benz as a retail dealer and is the Finnish franchising partner of Enterprise, the world’s largest car rental company. LänsiAuto has approximately 500 employees. The transaction is conditional upon the approval of the competition authorities.

29.11.2022

NREP – New Noli Studios to Katajanokka and Otaniemi

We advised NREP in two Noli Studios real estate development projects. The projects consist of realising new properties under the Noli Studios concept in Katajanokka, Helsinki, and Otaniemi, Espoo. The real estates of both properties were purchased from the Finnish state, which was represented by Senate Properties in the transaction. Our advice also covered the negotiations on the construction and lease agreements, among other things. The office buildings in Katajanokka were previously used by Finland’s Ministry of Foreign Affairs. In the Katajanokka premises, 226 studios will be built, making the existing Noli Studios Katajanokka and the new Noli Studios Kanavakatu one of the biggest hotel complexes in Finland. The estimated completion time for the project is by the end of 2023. The Maarinrannantie site in Otaniemi is a new construction project. It comprises a 15-storey hotel building with more than 400 studios and a single-storey commercial building with a grocery store. The estimated completion time is in the first half of 2024. The construction of these Noli Studios sites supports NREP’s commitment to be carbon neutral by 2028. The aim is to achieve a Platinum-level LEED certification for both Noli buildings and a Gold-level LEED certification for the commercial building in Otaniemi. The building in Otaniemi will be heated using geothermal energy, and it will also utilise heat recovery and solar energy extensively to produce its own electricity. NREP has developed Noli Studios in Finland, and they have grown to be one of the most significant operators in the field. Urbanisation has increased the need for new kinds of solutions for living, and Noli Studios match these needs by combining the comforts of home and services of a hotel. Photo: Avarrus Arkkitehdit Oy

19.8.2022

Varma – Central Pasila’s office and commercial premises

We advise Varma in an office building project where Varma creates office and commercial premises in Central Pasila’s new Tower Area. The building will house over 3,000 office work stations as well as restaurant and commercial premises to be used by tenants and other people in the nearby area. The lettable floor area will be 43,000 square metres in total. The main tenant will be Elisa. The project is expected to be completed in 2026. Varma’s goal is to achieve an entirely carbon-neutral real estate investment portfolio by 2035. Varma’s environmental sustainability targets and circular economy guidelines for construction will be taken into account in planning the Central Pasila office building. When the building is complete, the highest BREEAM environmental certification (BREEAM Excellent) will be sought for the building. Varma is one of Finland’s largest real estate investors, with real estate assets worth approximately EUR 5.2 billion. Varma has some 80 commercial properties and roughly 4,200 rental apartments throughout Finland. The Central Pasila project is one of Varma’s largest office building projects ever.

19.8.2022

YIT – The second phase of the Järvenpää Bulevardikortteli block

We assisted YIT in the sale of all shares in Kiinteistö Oy Järvenpään Perhelä 5 to OP-Public Services Real Estate special investment fund. The value of the transaction is approximately EUR 10 million. YIT launches the second phase of the Järvenpää Bulevardikortteli block by constructing a service and commercial building for the use of the Hospital District of Helsinki and Uusimaa HUS on the target property. The centrally located site has been designed with communal and ecological solutions in mind, and LEED Gold certification will be applied for the building. The size of the premises to be constructed is approximately 2,000 m2 and the estimated completion of the building is in autumn 2023.

7.7.2022

Lumo Kodit – Acquisition of 942 Apartments in Finnish Growth Centres

We advised Lumo Kodit Oy, a subsidiary of Kojamo plc, in the acquisition of 942 apartments in Finnish growth centres from a fund managed by NREP. The transaction concerns 13 high-quality properties completed between 2017 and 2021. Of the apartments, 461 are located in Helsinki, Espoo and Vantaa, 191 in Turku, and 290 in Jyväskylä.

28.6.2022

LocalTapiola Aluekiinteistöt Ky – Acquisition of Housing Company Tampereen Pikku-Aleksi

We assisted LocalTapiola in its acquisition of a real estate company owning a nine-storey building from Develo Oy, a Finnish real estate development and investment company. The purchaser, LähiTapiola Aluekiinteistöt Ky, is managed by LocalTapiola Real Estate Asset Management. The building is located in the centre of Tampere, Finland, and the project involved the complete renovation of the original seven storeys of the building and the construction of two additional storeys. The building has 70 lettable homes, from one-room apartments to more spacious apartments with two rooms.

7.1.2022

Newil and Bau and Samla Capital – Sale of Two Residential Buildings in Helsinki

We advised Newil and Bay Oy and Samla Capital Oy in the sale of two residential buildings to Kojamo plc in a five-building complex to be constructed in Lehtisaari, Helsinki. The residential buildings to be built will have a living area of approximately 2,000 m2 and, when completed, they will become part of Kojamo’s Lumo brand. The buildings are estimated to be completed in early 2023.

13.7.2021

YIT – Sale of the Bulevardikortteli Office Block in Järvenpää

We advised YIT, the largest Finnish construction company, in the sale of Bulevardikortteli office block in Järvenpää to German real estate investment company Quadoro. The construction of Bulevardikortteli began in the spring of 2021 and will be completed in phases. The entire block is estimated to be completed in 2025. The Bulevardikortteli block is a priority project in Järvenpää that will include apartments, office space and commercial premises.

7.7.2021

Sagax – Sale and Leaseback of HKScan’s Property Complex in Vantaa

We advised Sagax in its purchase of HKScan’s logistics and production complex in Vantaa, Finland. The complex is centrally located in the Aviapolis business park in close proximity to major traffic routes and the Jumbo shopping centre and encompasses about 51,000 square metres of leasable space. The total investment is approximately 80 million euros. The arrangement also includes a 20-year lease agreement with HKScan.

22.2.2021

Special Investment Fund eQ Care – Acquisition of a Large Hospital and Care Property in Helsinki

We advised Special Investment Fund eQ Care in its acquisition of a large hospital and care property at Tenholantie 10 in Helsinki from Invalidisäätiö. The property was originally constructed between 1941–1943 to provide rehabilitation for Winter War veterans. The property has been expanded and modernised several times to meet the modern hospital and health care standards and to accommodate also two nursing homes for the elderly. The leasable area of the property is approximately 21,600 sq. m. and the tenants include a number of leading health care and care providers, such as HUS, Orton, Esperi Care and Tutoris.

22.12.2020

MVH-Kiinteistöt – Sale of Healthcare Portfolio

We advised MVH-Kiinteistöt Oy in the sale of seven healthcare properties to Hoivatilat Oyj. The properties provide capacity to 171 residents and a gross lettable area of approximately 7,700 sqm. The total purchase price is EUR 26.5 million. The properties are located in six Finnish cities and are fully occupied with long lease agreements. The recently built sites are operated by four different operators providing accommodation to specific patient groups.

11.12.2020

European Insurance Group – Acquisition of Extensive Forest Property Portfolio

We represented a company belonging in an European insurance group in the acquisition of an extensive portfolio of forest properties from United Bankers’ UB Nordic Forest Fund I. In the transaction, all partnership interests in the limited partnership fund were acquired for a total price of approximately EUR 73 million. In addition to forest properties, the purchaser obtained an existing forest management infrastructure. The transaction stems from the insurance group’s desire to grow the share of forest properties in its investment allocation.

23.10.2020

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.

13.10.2020

Samla Capital – Acquisition of Historically Valuable Property in Helsinki

We advised Samla Capital Oy in a transaction whereby Samla Toimitilat II Ky and Samla Asunnot Ky managed by it acquired a historically valuable property complex located in Kruununhaka, Helsinki. The property complex is comprised of three buildings built in 1885 and one built in 1930. The buildings have a total floor area of approximately 13,500 square metres. Three out of the four buildings will be renewed to an interesting international hotel with ancillary services. The fourth building at the address Liisankatu 8A will be renovated either for residential or hotel use.

21.9.2020

YIT – Disposal of Kankaan Arkki Office Property

We advised YIT, the largest Finnish construction company, in the sale of the Kankaan Arkki office property in Jyväskylä to Non-UCITS Fund Aktia Commercial Properties (AIF). The construction of Kankaan Arkki began in January 2020 and is scheduled to be completed in February 2021. The total floor area of the seven-storey property is over 7,000 square metres. The value of the agreement is approximately EUR 16 million.

4.5.2020

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