Minttu-Maria Miettinen

VR-Group – Sale of road logistics business to investment company Mutares

We are acting as legal advisor to VR-Group Plc in their strategic decision to sell their road logistics business to the investment company Mutares. This transaction supports VR’s focus on rail transport in freight traffic. The road logistics business, which generated a revenue of approximately EUR 80 million in 2023, will be transferred to a newly established company under Mutares. The business unit employs around 75 people who will transition to the new company. The completion of the transaction is subject to approval by the Finnish Competition and Consumer Authority.

18.11.2024

Fortum – Sale of recycling and waste business

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.

18.7.2024

Funds managed by OP – Sale of two modern logistics properties

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.

3.7.2024

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

Catella Real Estate – Sale of an office property in Helsinki CBD

We advised Catella Real Estate AG in the sale of an office property located at Lönnrotinkatu 20 in Helsinki’s central business district to a fund managed by Slättö. The property will be refurbished and developed into a Bob W apartment hotel, which is expected to open to the public during the summer 2025. The building was originally constructed in the 1970s and has approximately 4,600 square meters of lettable space.

31.1.2024

LähiTapiola Aluekiinteistöt – Acquisition of a Retail Property Portfolio

We advised LähiTapiola Aluekiinteistöt Ky in its acquisition of a portfolio comprising three real estate companies. The buildings on the properties owned by the real estate companies, completed between 2016 and 2017, are located in Espoo, Vantaa and Ylöjärvi with excellent transportation connections. All three assets boast a high ESG profile with leading Finnish retailers Kesko and Tokmanni Group as their tenants.

11.1.2024

OP-Rental Yield non-UCITS fund – Sale of residential portfolio

We advised OP-Rental Yield non-UCITS fund in the sale of two modern apartment buildings to Nrep. The object of sale comprised 190 apartments with the combined area of approximately 10,600 square metres.The buildings were constructed in 2014 and 2018 and are located in Perkkaa and Matinkylä in Espoo.

4.7.2023

Seller – Sale of modern last-mile logistics terminal

We advised the seller in the sale of a modern last-mile logistics terminal in Helsinki, Finland to a fund managed by Slättö.

3.7.2023

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

NREP – Acquisition of a residential portfolio

We advised NREP in its acquisition of a residential portfolio comprising three residential properties and 226 apartments from S-Bank Housing non-UCITS Fund. The properties were completed in 2018, 2021 and 2022, and they are located in Espoo and Vantaa next to excellent public transportation connections and daily services. All of the three properties also have a strong ESG profile, which will be further improved upon one of the assets converting its heating system to geothermal heating during spring 2023.

14.4.2023

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

Fortum – Joint Data Centre Project with Microsoft

We advise Fortum in a collaboration project with Microsoft, whereby Fortum will capture the excess heat generated by a new data centre region to be built by Microsoft in the Helsinki metropolitan area. The data centres will use 100% emission-free electricity, and Fortum will transfer the clean heat from the server cooling process to homes, services, and business premises that are connected to its district heating system. This waste heat recycling concept from the data centre region will be the largest of its kind in the world.

18.3.2022

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