YIT has sold the Bisnespaja Avia business premises to non-UCITS Fund OP-Vuokratuotto

INVESTOR NEWS                                 APRIL 14, 2014 AT 9:00 A.M.

 

YIT has sold the Bisnespaja Avia business premises to non-UCITS Fund OP-Vuokratuotto

 

YIT has signed an agreement on selling the Bisnespaja Avia business premises that are based on the Work & Trade concept in Aviapolis, Vantaa, Finland. The property is sold to the non-UCITS Fund OP-Vuokratuotto.

 

The object of the transaction comprises approximately 5,000 floor square metres of business premises in two buildings based on the Work & Trade (W&T) concept. Its construction was completed in November 2013. Located in an attractive district on the Tikkurilantie road, the premises offer versatile spaces for small and medium-sized businesses. The buildings are equipped with energy-efficient technology and user-specific consumption measurement systems. Geothermal energy is used for heating and cooling.

 

”In the Work & Trade concept developed for small and medium-sized businesses, premises can be flexibly adjusted to companies’ different needs. They can serve as logistics, production, business or office premises or combinations thereof. There is a lot of demand for such premises in Vantaa,” says Jukka Hanhilahti, Director, Logistics Construction Services, YIT.

 

“This transaction is in line with OP-Vuokratuotto Fund’s strategy to invest not only in residential housing but also in quality business premises. A real estate featuring long-term leases with several tenants generates stable yield for the owner,” says Pia Lindborg, Investment Director from Pohjola Property Management Ltd, which serves as the advisor for the fund.

 

For additional information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50 390 6750, sanna.kaje@yit.fi

Timo Lehmus, Head of Business Premises business division, YIT Construction, tel. +358 400 409 181, timo.lehmus@yit.fi

 

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

 

YIT is a construction industry leader. We create better living environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over 100 years of experience have secured for us a strong market position: We are the largest housing developer and one of the largest business premises and infrastructure developers in Finland, and the most significant foreign housing and area developer in Russia.  Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have more than 6,000 employees in seven countries. In 2013, our revenue amounted to nearly EUR 1.9 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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