YIT Sells All Tripla Office Properties

Tripla Office Properties Image: YIT
Tripla Office Properties

Finland Finland YIT has sold the Tripla’s Workery offices, being built in Pasila, Helsinki, as a whole to an international investor. Tripla’s Workery offices, called Workery East and Workery West, are developed, constructed and owned by YIT. Their leasable area is approximately 50,000 square metres.

2018-12-28

Share via e-mail

The deal is the single largest office property transaction in YIT’s history. The purchase price will be paid based on the percentage of completion: YIT will receive the first instalment in 2018 and the remainder will be paid in instalments according to the percentage of completion.

“We are very satisfied with the fact that Tripla’s Workery offices in Pasila, Helsinki, attracted the interest of several significant international property investors and with the fact that the properties were sold as a whole. The interest of international buyers is a great indication of Tripla’s appeal. Central Pasila is truly turning into the second city centre of Helsinki. The modern business premises that are currently under construction will offer comfortable and flexible space for working and a new kind of living environment for the city’s residents, something that we all can be proud of," says Esa Neuvonen, EVP, Business Premises segment and Partnership Properties segment at YIT.

The construction of the offices began in early 2018 and they will be completed in spring 2020. Workery East’s leasable area is approximately 28,000 square metres and, at the end of 2018, its percentage of completion will be more than 65 percent. Workery East’s anchor tenant is Telia Finland. Workery West’s anchor tenant is Otavamedia Ltd. Workery West’s leasable area is approximately 22,000 square metres and, at the end of the year, its percentage of completion will be approximately 55 percent. Lease agreements in both office properties are long. Tripla’s Workery offices are constructed according to the criteria of the LEED Platinum certificate.

Tripla is a three-block complex to be completed in Central Pasila in stages during 2019 and 2020. It includes the Mall of Tripla shopping centre, a parking facility, public transport hub, apartments, a hotel and the offices that were now sold.

The parties have agreed not to disclose the purchase price at this point.




Axel Ohlsson
axel@nordicpropertynews.com




Quadoro Doric Makes Second Finnish Acquisition

Finland Finland As the portfolio manager for the open-ended special AIF Vontobel Sustainable Real Estate Europe, Quadoro Doric has acquired the office and commercial building “Marble” in a central downtown location in the Finnish city of Turku.

“There Has Been a Huge Lack of Affordable Rental Apartments”

Finland Finland YIT’s Vice President Hanna Jaakkola tells Nordic Property News about the development of the rental apartment market in Finland over the years, how it is today and the company’s new joint venture.

YIT Invests in a New Finnish Joint Venture That Focuses on Rental Apartments

Finland Finland YIT is involved in founding a joint venture that invests in rental apartments the company has constructed in Finland. The investors in the joint venture are YIT (49 percent) and a group of Finnish private investment companies, including Oma Säästöpankki as well as LähiTapiola Etelä-Pohjanmaa. At the same time, YIT is selling almost 600 completed apartments or apartments that are in the final stage of construction throughout Finland to the new joint venture. The total value of the sold apartments is over EUR 100 million.

"There Is an Investment Need That You Should Do Something With"

Finland Finland Recently, Hemsö invested EUR 130 million in healthcare properties in Turku. Head of Finland, Jarkko Leinonen, tells Nordic Property News what is happening with the healthcare properties when the Finnish government has resigned due to a social reform.

Areim Acquires an Office Asset in Helsinki

Finland Finland Areim has acquired an office building from GE Healthcare Finland Oy in Vallila, Helsinki.

Finland's Government Resigns: Here Are the Possible Effects for the Real Estate Market

Finland Finland Kojamo’s CEO Jani Nieminen on the political chaos in Finland where the government resigned last week and the most important questions in next month’s election.

Peab Builds Hospital in Seinäjoki

Finland Finland Peab will build a hospital for Fastighetsaktiebolaget Seinäjoen Terveysteknologiakeskus on Östermyragatan in Seinäjoki, Finland. The contract amount is EUR 30 million.

“We Went from Being a Property Portfolio to Really Being a Company”

Finland Finland Tomorrow it is exactly one year since Cibus Nordic Real Estate was listed on the stock exchange. Chairman Patrick Gylling tells Nordic Property News about what he is most satisfied with, what the new CEO did the first week on the job and what awaits the company in the future.

Kojamo Builds Two Lumo Properties in Helsinki’s Jätkäsaari District

Finland Finland Lumo Kodit Oy is having two residential properties built in Helsinki’s Jätkäsaari district. With a total of 156 apartments, the waterfront buildings at Bahamankatu 8 and Karibiankuja 4 will form part of the Karibianranta neighbourhood.

Cibus Acquires in Kuopio

Finland Finland Cibus Real Estate has signed the acquisition of a single asset located in Siilinjärvi, a suburb of Kuopio in Finland.