References/9 Jul 2021
Borenius advised Varma on the establishment of a joint venture with YLVA
We advised Varma on the establishment of a joint venture with YLVA for the Lyyra development project.
The Lyyra project is located in Kallio, Helsinki, and will be completed in stages by 2023. Three new buildings will be constructed in the Lyyra block, comprising a hotel, office space, restaurants, and apartments. The total floor area of Lyyra is 20,800 square meters, which includes underground facilities. YLVA will serve as the project’s active developer.
Varma is one of the largest pension insurance companies in Finland. The company is responsible for the statutory earnings-related pension cover of approximately 900,000 people in the private sector.
YLVA is owned by the Student Union of the University of Helsinki. YLVA’s business activities focus on real estate and financial investments, but it also invests in the restaurant sector.