NEWSEC ADVICED THE CITY OF HELSINKI IN a €165 MILLION SALE AND LEASEBACK ARRANGEMENT WITH UNION INVESTMENT

4.12.2018

On the 4th of December the City of Helsinki has signed a sales agreement regarding the Urban Environment House located in Kalasatama, Helsinki. The property currently under construction is acquired by Union Investment Real Estate GmbH via a forward purchase agreement. Purchase price for the asset comprising 27,500 sqm of leasable area is 165 million euros. At the same time City of Helsinki signs a 20-year lease for the entire building.

The property is expected to receive a BREEAM rating of "Excellent" as proof of its high sustainability credentials and construction quality.

Newsec acted as the Vendor's advisor in structuring and executing the transaction. It was important for the City of Helsinki to ensure achieving both the best sales price and securing an affordable rent level. Also as a public entity, the City of Helsinki valued the process to be transparent and market-determined.

HPP Attorneys Ltd acted as the City of Helsinki's legal advisor.

For further details please contact:
Mikko Tenhola
Head of Capital Markets, Newsec Advisory in Finland
Mobile: +358 40 500 1310
e-mail: mikko.tenhola@newsec.fi