YIT signs contract on the sale of logistics property

YIT has signed a contract on the sale of the K3 North property to a fund managed by an international investment company. The K3 North property is located in the neighbourhood of Viinikkala in Vantaa, Finland, close to Helsinki Airport. The parties have agreed not to disclose the purchase price.

The area of the K3 North logistics property is approximately 22,000 m2, the majority of which has already been leased to a foreign operator. The property was designed for traditional pallet storage, but it is also suitable for other logistics purposes. The property will be completed by the end of 2021, and it will apply for LEED Silver environmental certification.

The property is the last of the logistics property development projects named K3, and K3 North will complete the area. The K3 Logistics West property was completed for this investment company in the same area in June 2020.

For further information, please contact:

Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 (0)40 576 0288, tommi.jarvenpaa@yit.fi
Esa Neuvonen, EVP, Partnership Properties segment, YIT Corporation, tel. +358 (0)40 500 1003, esa.neuvonen@yit.fi

YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and living environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. In 2019, our revenue was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Tags: