The target of the transaction comprises the Jyväskylä University of Applied Sciences main campus, IT-Dynamo building, Music campus and three fire stations. Educational properties have excellent locations in the Jyväskylä city centre. Fire stations are situated logistically in key locations in Ristonmaa, Seppälä and Vaajakoski districts.
The lettable area of the portfolio is approximately 55,000 sq.m.
The properties are leased with long lease agreements to Jyväskylä University of Applied Sciences, Jyväskylä Educational Consortium and Central Finland Rescue Department. The purchase price is 141 million euros. The buyer, eQ Community Properties Fund, is the largest domestic community and care property fund in Finland. Currently, the market value of the fund’s real estate portfolio is approximately 1.5 billion euros.
The transaction will be considered in the Jyväskylä City Council at the end of October. If the city council approves the transaction, it is estimated to be closed in December.
Catella has acted as City of Jyväskylä’s exclusive financial advisor in the sales process and Bird & Bird as the legal advisor.