Skanska OY AB sold a residential tower, Hyperion, from Aurinkolahti to a fund managed by Union Investment Real Estate Gmbh for approx. €74 million. Newsec acted as the Vendor’s commercial advisor in the transaction, while Merilampi acted as the Vendor’s legal advisor.
Hyperion is a 24-floor residential tower, with approx. 10,500 sqm of leasable area, comprising 216 rental apartments, rising to Aurinkolahti in Vuosaari, Helsinki by Q2/2023. The landmark building with a unique copper coloured façade will offer high-end rental apartments with spectacular sea or/and port views.
The acquisition is Union’s first residential acquisition in Nordic countries.
Tuomas Vaarasalo, Project Development Director from Skanska: "I am pleased that long-term development work will culminate in concrete results when construction work begins. Skanska's share of residential blocks in central Vuosaari encompasses two tower blocks, of which Hyperion is the first. According to preliminary estimates, construction of the second tower block will begin later this year."
Martin Schellein, Head of Investment Management from Union: “We want to develop residential investments into a strong pillar in our portfolio alongside offices, hotels, retail and logistics. The Nordics and especially Helsinki, as markets that we have known well for many years from commercial investments, offer attractive framework conditions, especially for forward funding opportunities. The Hyperion project with its high sustainability standards and its high visibility in an economically strong market has the potential to become a role model for further residential investments in the Nordics. We are very pleased that we were able to secure this first large residential investment in the Nordics for our largest open-ended real estate fund.”
Marjo Kosonen, Associate from Newsec: “At Newsec, we are happy to have had the honour of advising Skanska in yet another interesting transaction. It is a pleasure to be involved in developing a more sustainable Helsinki through high quality residential. This project, as well as the several other residential projects our team has executed recently, demonstrates the solid fundamentals of and strong international interest in Finnish residential market.”
+358 40 749 8604
Head of Capital Markets
Partner (Newsec Advisory Finland)
+358 505 722 338
(Illustration: B&M Architects)