OFFPLAN NEWS

(28.06.2007 )
Real estate Finland HGR Property Partners acquires Unilever’s Finnish headquarters

In its first acquisition without a majority equity investing partner, HGR Property Finland Partners Oy has acquired Unilever Finland’s headquarters on Sturenkatu 21 in Vallilla, Helsinki. The total investment value is approx. € 22 million.
The seller is YIT Rakennus (“YIT”). ”HGR already in the first stage acted as investor and developer of the property together with YIT. The development of the property has now reached the stage where this transaction regarding the whole of the property was
possible. In its previous deals, HGR has made investments together with a majority equity investor. According to its strategy, HGR can also make investments without a partner. The transaction announced today is the first of this kind for our one-year old company. We will, however, also in the future continue to make transactions with international investor partners.” says Kari Helin, one of HGR’s three founders.
The building is being completely refurbished by YIT. The refurbishment will be completed in February 2007. The main tenants are Unilever Finland and Finland Post.
“There is still some development work and letting to be done. When finished, it will be a brand new building in Helsinki inner city with attractive lease agreements,” Kari Helin adds.
HSH Nordbank AG acted as the debt provider for HGR.

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