Nordic specialist Niam has acquired a new office building in Helsinki, Finland from Helsingin Lyyra for an undisclosed sum.
The seller is a joint venture between Ylva (55%), the asset manager of the Student Union of the University of Helsinki, and pension insurance company Varma (45%).
The property is part of Lyyra, a new hybrid block being built in phases in Hakaniemi with a hotel, offices, restaurants, and residential units, offering a leasable area of 18,400 m2.
The block consists of two buildings and the 8,700 m2 office building Niam acquired was completed in February 2023, almost fully occupied with tenants including IBM, Duunitori, GlucoModicum and Kesko.
Besides office space, the building also has several restaurants, grocery and direct access to Hakaniemi Metro station once the new entrance is put into use in autumn 2023.
Antti Muilu, country manager for Niam Finland, said: ‘The Lyyra office building offers great premises to tenants and, thanks to its good quality, fits our high sustainability goals very well. We are happy to join the Lyyra quarter, which will be a wonderful addition to the developing Hakaniemi area.’
Ylva’s real estate director, Ville Vaarala, added: ‘The goal has been to build the most sustainably constructed and operated block in Helsinki dedicated to science and business: a block that will serve the citizens of Helsinki for at least the next 150 years. Our main goals have been creating a concept according to the competition proposal and piloting responsible construction methods which we have accomplished.’
Heini Koivumäki, director, Capital Markets, JLL Finland, commented: ‘We are pleased to have supported Ylva throughout this sale. Amidst a challenging market, the property's robust ESG credentials generated outstanding levels of investor interest. This underscores the growing impact of sustainability on investor appetite, and we take pride in leveraging our deep expertise to serve Ylva in this area.’
The estimated value of the Lyyra building complex is €110 mln and Helsingin Lyyra secured a €65 mln green development loan from the Nordic Investment Bank (NIB) and Nordea in 2021.
Completed in February 2023, Lyyra prioritizes sustainable construction and aims for LEED Platinum and WELL Core certifications, in addition to being carbon neutral during operation.
Hakaniemi is a vibrant and trendy neighborhood with office, residential, restaurant and cultural premises, close to Helsinki CBD with excellent public transport connections.
JLL acted as Ylva’s sole commercial advisor in the transaction, Avance attorneys acted as Ylva’s legal advisor and Hannes Snellman as Niam’s legal advisor.
