YIT and HGR Property Partners sold a premium property in Helsinki, Finland to Cordea Savills
12/20/2012 8:00 AM EST
YIT
Investor News
YIT and HGR Property Partners sold a premium property in Helsinki, Finland to
Cordea Savills
Helsinki, 2012-12-20 14:00 CET (GLOBE NEWSWIRE) --
YIT and HGR Property Partners Oy have on 20 December 2012 signed a contract of
sale with a fund managed by Cordea Savills regarding the historic premium
property at Ruoholahdenkatu 23, Helsinki, Finland. The property has a total
floor area of about 7,000 square metres, and the contract price is
approximately EUR 27 million. Leimdörfer Finland Oy acted as an advisor to the
sellers.
Ruoholahdenkatu 23 was built in 1913. Its premises have undergone a total
overhaul, and they will be converted into modern office and business premises
by February 2013. Following the overhaul, the premises will better serve the
occupants' businesses, while the life span of the property is also extended.
The main tenant at Ruoholahdenkatu 23 is travel agent CWT Kaleva Travel. When
the occupant-specific modifications to the premises have been completed, Oy
Academic Work Suomi Ab will also move in, after which there will be only 1,400
square metres of vacant office premises left.
“We are very pleased to return this old prestigious building totally renovated
to its occupants and as part of the reformed cityscape of Ruoholahti area. The
project succeeded and met its targets, and we can once again be pleased with
our long-standing investment and property development cooperation with YIT,”
says Partner Kari Helin of HGR.
In December, Ruoholahdenkatu 23 was awarded Gold Level Certificate based on the
LEED Core & Shell standards. Besides the basic overhaul, this high-level
classification was received due to the location of the property in the urban
structure with easy access to several different modes of public transport.
“In spite of its advanced age, the building was found to have a very good
energy economy. As a whole, the site is a good example of how an old property
can, with sensible basic overhaul solutions, achieve today’s stringent targets
regarding energy and the environment,” says Seppo Martikainen, Vice President
responsible for investment business.
For further information, please contact:
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel.
+358 400 460 913,
Kari Helin, Partner, HGR Property Partners Oy, tel. +358 40 579 0570,
YIT is celebrating its 100th anniversary in 2012. The company was founded in
the Grand Duchy of Finland in 1912. Today, YIT is a leading European service
company in building systems, construction services and services for industry.
Our 26,000 professionals serve customers in 14 countries in the Nordic and
Baltic countries, Russia and Central Europe. We have grown together with our
customers and developed our services in line with the changes taking place in
different societies. We intend to continue on that track. Our vision is to lead
the way in creating and maintaining good living environments. In 2011, YIT’s
revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ
OMX Helsinki. www.yitgroup.com
HGR Property Partners is a real estate investment company investing in Finnish
real estate investment subjects and development projects. The company was
established in 2005, and it has concluded real estate transactions totalling
EUR 500 million in Finland.