Union Investment has agreed to acquire the planned Urban Environment House complex in the east of Helsinki via a forward purchase agreement. The property will offer some 27,500m² of rental space and is being constructed in the Kalasatama submarket. Completion is scheduled for summer 2020. The vendor and future tenant of the property is the City of Helsinki, which has signed a 20-year fixed lease for the entire building. The purchase price totals €165m. The Urban Environment House is Union Investment’s largest single property investment in Finland to date. The property will be added to the portfolio of open-ended real estate fund Unilmmo: Europa.
Kalasatama subway stop is around 100 metres from the new building. The property is expected to receive a BREEAM rating of “Excellent” as proof of its high sustainability credentials and construction quality. There will be 75 car parking spaces and 590 bicycle spaces in the building’s underground car park. Among the other sustainability features are a photovoltaic system on the roof and a wide selection of plants in the interior of the building to create a healthy indoor climate for users.
