JLL has advised a joint venture formed by Ylva and Varma on the sale of a newly built office and retail property in central Helsinki to Niam.
News release
20 July 2023
JLL advises Ylva on the sale of an office property in central Helsinki
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The property is part of the Lyyra development, a hybrid block in Hakaniemi developed by Ylva that consists of office and retail premises, a hotel, and apartments. The property acquired by Niam is the first phase of the block to be completed, and comprises approximately 8,700 sq m of lettable area. The property is almost fully occupied and its tenants include IBM, Duunitori, GlucoModicum and Kesko. Slated to receive LEED Platinum and WELL Core certifications, and being carbon neutral during operation, the property represents the next stage of sustainable office development in central Helsinki.
Ville Vaarala, Real Estate Director, Ylva:
“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. It has been a pleasure to see that the choices that have been made in the project have also resonated in the market and the property received lots of interest despite the challenging market situation.”
Heini Koivumäki, Director, Capital Markets, JLL Finland:
“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. Congratulations to Niam on acquiring this exceptional property, and thank you to both parties for a successful process.”
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.
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 106,000 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.