YIT and HGR Property Partners sold a premium property in Helsinki, Finland to Cordea Savills

YIT and HGR Property Partners Oy have on 20 December 2012 signed a contract of sale with a fund managed by Cordea Savills regarding the historic premium property at Ruoholahdenkatu 23, Helsinki, Finland. The property has a total floor area of about 7,000 square metres, and the contract price is approximately EUR 27 million. Leimdörfer Finland Oy acted as an advisor to the sellers.

Ruoholahdenkatu 23 was built in 1913. Its premises have undergone a total overhaul, and they will be converted into modern office and business premises by February 2013. Following the overhaul, the premises will better serve the occupants' businesses, while the life span of the property is also extended. The main tenant at Ruoholahdenkatu 23 is travel agent CWT Kaleva Travel. When the occupant-specific modifications to the premises have been completed, Oy Academic Work Suomi Ab will also move in, after which there will be only 1,400 square metres of vacant office premises left.

“We are very pleased to return this old prestigious building totally renovated to its occupants and as part of the reformed cityscape of Ruoholahti area. The project succeeded and met its targets, and we can once again be pleased with our long-standing investment and property development cooperation with YIT,” says Partner Kari Helin of HGR.

In December, Ruoholahdenkatu 23 was awarded Gold Level Certificate based on the LEED Core & Shell standards. Besides the basic overhaul, this high-level classification was received due to the location of the property in the urban structure with easy access to several different modes of public transport.

“In spite of its advanced age, the building was found to have a very good energy economy. As a whole, the site is a good example of how an old property can, with sensible basic overhaul solutions, achieve today’s stringent targets regarding energy and the environment,” says Seppo Martikainen, Vice President responsible for investment business.

For further information, please contact:
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 400 460 913, seppo.martikainen@yit.fi
Kari Helin, Partner, HGR Property Partners Oy, tel. +358 40 579 0570, kari.helin@hgrpropertypartners.fi

YIT is celebrating its 100th anniversary in 2012. The company was founded in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com

HGR Property Partners is a real estate investment company investing in Finnish real estate investment subjects and development projects. The company was established in 2005, and it has concluded real estate transactions totalling EUR 500 million in Finland.