JLL advises SRV in the sale of a landmark residential tower in Helsinki
SRV has signed an agreement to sell T7 Tower, a 24-floor landmark residential building in central Helsinki, to PATRIZIA for approximately EUR 101 million.
© 2021, Architectural rendering by Helin & Co Architects
T7 Tower will comprise 240 apartments and approximately 10,000 square metres of lettable area. Located in the strongly growing seaside district of Kalasatama, immediately next to the REDI shopping centre, it benefits from excellent connectivity by public transport and easy access to comprehensive services and amenities.
The construction of T7 Tower will commence at the start of 2022, with estimated completion by the end of 2023. The building will be built with high technical and environmental standards, and it is set to achieve EPC rating of A and BREEAM certification of “Very good”.
Tuomas Kokkila, Head of Transactions, SRV: “Thank you for the Patrizia team for a very swift transaction and for the trust to begin co-operation with SRV. Further, thank you also to JLL for yet another successful deal this year. The T7 project is a great example of the part of our development pipeline targeted for institutional investors and what we hope to develop more in future; grade-A assets with centric submarket locations, excellent public transport connections and strong ESG focus.”
Pauliina Rantsi, Senior Director, Capital Markets, JLL Finland: “We are proud to have been able to act as SRV’s commercial advisor in the sale of this landmark high rise building. Our strong track record in 2021 has given us unrivalled insight into the Finnish residential segment, and we are grateful for having been given the opportunity to leverage this knowledge to achieve excellent results for our client. The sale of T7 Tower highlights the unprecedented level of international interest in the Finnish residential sector, and the increasing willingness of buyers to consider forward funding and other such alternative opportunities as well.”
SRV Construction Ltd, acted as the seller in the transaction, and is part of SRV Group which was established in 1987 and listed on the Helsinki Stock Exchange. JLL acted as SRV’s sole commercial advisor and Krogerus acted as the legal advisor.
Contact: |
Pauliina Rantsi, Senior Director, Capital Markets, JLL Finland |
Phone: |
+358 40 823 0910 |
Email: |
pauliina.rantsi@eu.jll.com
|
Contact: |
Tuomas Kokkila, Head of Transactions, SRV |
Phone: |
+358 50 469 1822 |
Email: |
tuomas.kokkila@srv.fi
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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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
SRV
SRV is a developer and innovator in the construction industry. SRV’s objective is a new lifecycle-wise reality where solutions related to construction ensure well-being, financial value and the benefit of users, residents and environment – for years and generations to come. The company’s genuine cooperation and enthusiasm for its work comes across in every encounter. Sustainability is reflected in all its activities.
SRV, established in 1987, is listed on the Helsinki Stock Exchange. It operates in growth centres in Finland and Russia. In 2020, the revenue totalled EUR 975.5 million. In addition to about 1,000 SRV employees, the group employs a network of around 4,200 subcontractors.