JLL acted as debt and financial advisor for Ylva on the new development financing for Lyyra project in Helsinki
JLL has advised Ylva on raising new development financing for the Lyyra project’s hotel and residential building that is under construction in Hakaniemi, Helsinki.
Image: Ylva / Cederqvist & Jäntti Architects
The building located between Siltasaarenkatu, Kolmas linja and Porthaninkatu is scheduled to be completed in early 2024. The financing in the debt transaction is provided by the latest Velo Capital fund - Velo Mezzanine Credit Fund (VMC) that is focused on green financing.
Sustainability has been a key focus of the project. Once completed, Lyyra will be operationally carbon-neutral while ambitious targets have been set for reducing the carbon footprint of the construction phase. A LEED Platinum certification – the highest level of certification available in the internationally recognised system – will be sought for Lyyra. In addition, the facilities are aiming for energy class A, the Finnish Ministry of the Environment’s highest energy-efficiency classification.
Ville Vaarala, Real Estate Director, Ylva:
“Lyyra is the first and so far only new build in the rapidly developing Hakaniemi area. We are pleased that the rigorous focus on sustainability benefitted us also in the debt financing process and we were able to find financing partner sharing the common goal with us.”
“We are proud to have helped Ylva throughout the financing process. Despite the challenging market conditions, as a testament to the high quality of the Lyyra asset, there was very strong interest from the debt providers in the competitive process. We are extremely delighted that Ylva was able to close very good financing solution tailored for the needs of the project.”
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.