LähiTapiola Group sold its stake in As Oy Helsingin Vanhalinnan, a significant residential property, to Nordea Life Assurance Finland, marking one of the largest individual residential transactions in Finland's history.

Target Information

The target of this transaction is As Oy Helsingin Vanhalinnan, located in the vibrant Itäkeskus area at Vanhanlinnantie 3. This prime location is strategically situated at the intersection of Kehä I and Itäväylä, providing excellent accessibility. Neighboring commercial amenities include Prisma and the popular shopping center Itis, which cater to the diverse needs of the tenants.

As Oy Helsingin Vanhalinnan offers approximately 21,000 square meters of leasable space, comprising over 300 high-quality rental apartments along with retail spaces on the ground floor. The property also features long-term leases with renowned tenants such as Mehiläinen’s medical center and Esperi Care’s nursing home. Designed and built by SRV, the property was completed between 2011 and 2012, ensuring modern facilities for its occupants.

Industry Overview in Finland

The Finnish real estate market has shown resilience and growth, particularly in urban areas like Helsinki. The demand for rental housing continues to rise, fueled by a grow