Construction and real estate firm YIT has sold the BW Tower office project in Lahti, Finland to three domestic institutional investors for €22 mln.

Construction and real estate firm YIT has sold the BW Tower office project in Lahti, Finland to three domestic institutional investors for €22 mln.

The buyers were insurers Fennia Mutual and Aktia Life, and the Finnish Metalworkers’ Union.

Handelsbanken provided financing for the transaction.

BW Tower, due for completion in autumn 2015, is an eight-storey office building being developed in the direct vicinity of the Lahti bus and freight terminal. It provides around 7,700 m2 of leasable space with an occupancy rate of over 90%.

Main tenants include Technical and Environmental Services of the City of Lahti and Lahden Pysäköinti.

Finnish Property Partners brokered the deal.