JLL advised the vendor on signing a preliminary agreement of a property in Helsinki metropolitan area, targeting for large-scale residential development
JLL has acted as an advisor to the vendor on signing of a preliminary agreement targeting to re-zone and develop a commercial property into residential use. The total land area in question is approximately 52,739 sq m. The purchasers and co-operatives in the development scheme are two well-known residential developers in Finland, Avain Yhtiöt Oy being one of the said two.
The intended development and closing of the transaction are subject to valid general plan and a local detailed plan.
Tero Uusitalo, Head of JLL Capital Markets Finland: “We are extremely pleased to have been able to assist our client on facilitating this successful process. This project is an ideal example of JLL’s capabilities to comprehensively advise our clients in development schemes and land sales. This preliminary agreement also highlights the demand towards large-scale residential development projects in Helsinki Metropolitan Area.”
JLL acted as vendor’s sole commercial advisor in the process.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.