The sales transaction of the Kasarmikatu 21 office property developed by YIT, Ahlström Capital and HGR Property Partners has been completed
YIT Corporation Investor News December 18, 2017 at 3:00 p.m.
The sales transaction of the Kasarmikatu 21 office property to an international investor has been completed after the conditions for the agreement were met. The property is developed by YIT, Ahlström Capital and HGR Property Partners. YIT is a minority shareholder with a 40% share of the ownership in the project.
YIT announced on August 11, 2017 the signing of the contract. Kasarmikatu 21 has been fully let with exceptionally long lease agreements. The average lease duration is greater than ten years.
PROJECT INFORMATION
Ahlström Capital, YIT and HGR Property Partners are developers of a new office complex adjoining Kasarmitori Square in Helsinki’s Kaartinkaupunki district, that will accommodate some 750 employees when it is completed at the end of 2017. The property will have seven floors above ground, two rooftop terraces and two basement floors, one that will provide parking space for cars and bikes and another that will house the building’s technical services centre as well as recreational and storage facilities. At the ground floor level, the complex will accommodate two restaurants run by the Juuri restaurant group – a lunch diner and a bistro – that will also serve the public. The new building is situated at the site of the city’s former Public Works Department and will provide a total of 16,000 square metres of office space. The property was designed by SARC Architects under the stewardship of lead designer Antti-Matti Siikala. The office complex is located on two lots and is being built by YIT in accordance with LEED Platinum environmental certification.
For further information, please contact:
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, hanna.jaakkola@yit.fi
Timo Lehmus, Head of Business Premises and Infrastructure segment, YIT Corporation, tel. +358 400 409 181, timo.lehmus@yit.fi
YIT CORPORATION
Hanna Jaakkola
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com