A plot fund FIM Tonttirahasto I Ky, managed by S-Bank Fund Management Ltd has signed a long-term land lease agreement with a purchase option.
News release
13 December 2024
JLL advises S-Bank on long-term lease with a purchase option of a residential plot
Your browser doesn't support speech synthesis.
Listen to article •
Read time: 1 sec
The tenant is a limited liability housing company owned by JM Suomi Oy. The plot locates in Finnoo, Espoo, next to the Finnoo subway station.
The plot has a valid local detailed plan enabling development of non-subsidized residential apartments.
Ville Vääränen, Fund manager, S-Bank:
“We are pleased that JM Suomi Oy was chosen as our partner in relation to this asset, and that a modern, energy-efficient residential building will be constructed on the plot."
Olli Peltomäki, Director, JLL Finland:
"We are delighted to have successfully advised S-Pankki in this land lease project. The residential development market, especially the non-subsidized residential segment, has been struggling the past few years resulting to a small number of new plot leases and transactions. However, we are starting to see positive indications of new construction commencing. This land lease is one of those indications.”
JLL acted as S-Bank’s sole commercial advisor in the transaction. DLA Piper acted as the seller’s legal advisor.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.