We advised the investors Aktia Life Insurance, Fennia Life Insuranceand Yleisradion Eläkesäätiö in their acquisition of Kiinteistö Oy Helsingin Gigahertsi. The investment commenced the construction of new retail premises of approx. 18,500 sqm leasable commercial area as part of the development of shopping and service centre Hertsi in Herttoniemi, Helsinki.
The sellers YIT and Hartela act as a consortium in constructing Hertsi, which is expected to be completed in 2020. The construction is part of a larger hybrid project comprising the annexation of the new construction to an existing shopping centre, as well as the construction of several new residential properties and a nursing home.
Fennia Life Insurance is part of the Fennia Group, one of the leading Finnish insurance companies, offering an array of non-life and life insurance and asset management services.
Aktia Life Insurance is part of the Aktia Group, the parent company of which is Aktia Bank plc (listed on Nasdaq Helsinki).
Yleisradion eläkesäätiö s.r. is the pension fund providing for the statutory pensions of employees of the Finnish Broadcasting Company, the national public service broadcasting company of Finland.
YIT is a company listed on Nasdaq Helsinki and one of the largest business premises and infrastructure construction companies in Finland.
Hartela is a family-owned, major construction company.