The target of transaction comprises a fire station property constructed in 2017 and with lettable area of approximately 3,900 sq.m. The property will be leased with a long-term lease agreement to the City of Seinäjoki. Lease agreement will be transferred to the Wellbeing Services County of South Ostrobothnia from 1st January 2023 onwards.
The purchase price of the shares of the mutual real estate company Kiinteistö Oy Seinäjoen Paloasema and the plot is approximately EUR 13.3 million in total. The buyer, LähiTapiola Aluekiinteistöt Ky, is a fund owned by LocalTapiola Group. The fund’s investment capacity is approximately 200 million euros.
The City of Seinäjoki and LähiTapiola Aluekiinteistöt Ky signed a sale and purchase agreement on 3rd November 2022, and the transaction was approved by the city government on 7th November 2022. The transaction is expected to be closed during December 2022.
Catella acts as the City of Seinäjoki’s exclusive financial advisor in the sales process. Bird & Bird Attorneys Ltd acts as the seller’s legal advisor. Castrén & Snellman Attorneys Ltd acts as the buyer’s legal advisor.