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News Release

Helsinki

JLL advises Fortum on the sale of the most renowned office building in Finland

Fortum and Fortum’s Pension Fund will sell Fortum’s current head office campus in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office buildings and the plots.


Fortum and Fortum's Pension Fund will sell Fortum's current head office campus in Keilaniemi, Espoo, to Regenero Oy. The transaction includes the head office buildings and the plots.

Fortum announced earlier this year that the company's head office will move at the turn of 2017-2018 to a refurbished multi-space office in Keilaniemi, Espoo.

"We are pleased to have reached this point in the project. The new owner can now start the work to develop the iconic high-rise and the surrounding area. We will focus on our core business and will move into premises in Espoo that will better accommodate our current operations," notes Risto Penttinen, Senior Vice President, Strategy, People and Performance, Fortum.

"Regenero's goal is to develop the entire Keilaniemi area. With the real estate acquisition, Regenero can create a sustainable, multi-use urban environment close to excellent public transportation services that are continuing to develop with the Western Metro Extension," says Juha Kostiainen, Chairman of Regenero's Board of Directors.

"We are delighted to facilitate the sale of what is arguably the most renowned office building in Finland to Regenero. The property's superb waterfront location in the premier headquarters area of Espoo and next door to the Keilaniemi metro station combined with the tower building's iconic landmark status provide a solid foundation for future development of the campus," comments  Christian Hohenthal, Head of Capital Markets, Finland.

JLL acted as exclusive commercial advisor to Fortum Real Estate and the Fortum Pension Fund in the sale of the Keilaniemi campus.

The value of the transaction is about EUR 74 million.