YIT has sold Maistraatinportti office property to Fennia Mutual Insurance Company
YIT Corporation Investor News 29 September 2023 at 4:00 p.m.
YIT and Fennia have signed a contract for the sale of the Maistraatinportti office building located in Länsi-Pasila, Helsinki. The office property will be purchased for a real estate investment portfolio managed by S-Bank Properties Ltd. The buyer in the transaction is an investment company belonging to the Fennia real estate portfolio. Maistraatinportti is YIT’s self-developed renovation site, with approximately 12,400 m2 of versatile office space and services. The parties have agreed that the value or terms and conditions of the transaction will not be published.
Completed in 1987, Maistraatinportti is located next to Pasilan Tripla, the busiest public transport hub in Finland. In the renovation, the property was completely repaired, including its facade, and converted from a one-user office building into a multi-user one. The repair was carried out with utmost respect for Ilmo Valjakka’s architecture, and the property has been upgraded to meet the requirements of modern working life and hybrid work through the use of adaptable premises and new technologies. The solutions implemented also increase the safety and usability of the property and facilitate its maintenance. Upon its completion in September, the property will be occupied by Eezy Oyj, for example.
The carbon footprint of the construction phase of the renovation project is estimated to be around 75% lower than similar new buildings. LEED Gold environmental certification is being sought for the project.
“Maistraatinportti is a fine example of YIT’s strong expertise in project development and renovation projects. Renovation projects can extend the life cycle of buildings while simultaneously making them more energy efficient to use, which reduces emissions and the carbon footprint. We are committed to the Science Based Targets initiative (SBTi), and one of the key measures is to reduce the in-use emissions of finished premises,” says Juha Kostiainen, Executive Vice President, Sustainable Urban Development, YIT.
Further information:
Group Communications, tel. +358 44 743 7536, press@yit.fi
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com
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