Union Investment has acquired a residential skyscraper, Atlas, from Aurinkolahti from Skanska for approx. €100 million. Newsec acted as the Vendor’s commercial advisor in the transaction, while Merilampi acted as the Vendor’s legal advisor.
Atlas is a 33-floor residential skyscraper, with approx. 16,000 sqm of leasable area, comprising 288 rental apartments and three commercial premises, rising to Aurinkolahti in Vuosaari, Helsinki by Q4/2024. The skyscraper will offer high-quality rental living with i.a. spectacular sea or/and port views as well as superior common premises.
The transaction is continuation to the transaction of the adjacent tower, Hyperion, between the parties earlier this year. (Link to the news article)
Jukka Haaparanta, Project Development Director from Skanska: “Development of the tower blocks in Vuosaari has been interesting and rewarding. Atlas is the tallest building Skanska has built in Finland. I am pleased that our cooperation with Union Investment continues along with this new project”
Martin Schellein, Head of Investment Management Europe from Union: “As the final components of the Dolphin Block development scheme, Atlas and Hyperion will complete the southern part of the established Vuosaari residential area. In view of the existing surplus demand, the prominent location and the high construction quality projected, we consider the letting prospects for the two residential towers to be very good.”
Marjo Kosonen, Associate Director from Newsec: “The transaction is a natural continuation to the transaction of the adjacent tower, Hyperion, between the parties earlier this year. Moreover, it is a great success for both of the parties. We are happy to see Union increasing their Nordic residential footprint by another high-quality development by Skanska. On behalf of Newsec, I want to thank Skanska for continued trust as well as both Skanska and Union for pleasant collaboration.”
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(illustration: B&M Architects)