YIT sells office and commercial building to LähiTapiola in Turku, Finland

YIT sells office and commercial building to LähiTapiola in Turku, Finland

YIT and Tapiola Mutual Pension Insurance Company signed a sales purchase agreement (SPA) on 26 October 2012 on Intelligate II, an office and commercial building to be constructed in the Kupittaa district in Turku, Finland. The value of the transaction is about EUR 18 million.

“Intelligate II meets our high requirements for new property investments. Intelligate II is a functionally and technologically modern building that has good tenants and a central location in the developing Kupittaa district. In addition, energy efficiency, environmental certification and other social responsibility considerations have been taken into account in the design and construction of the building,” says Portfolio Manager Kaisa Kallio from LähiTapiola.

The Intelligate office complex consists of three interlinked office and commercial buildings. The first phase, Intelligate I, was completed in 2006. It was built by YIT and is owned by LähiTapiola. Intelligate II will be completed in October 2013 and comprises about 6,700 square metres of office space. The building will fall into the energy efficiency class A, and LEED certification will be applied for.

“For a long time, there has been demand for new and modern office space in Turku, particularly in Kupittaa. Intelligate II is our response to this demand. LähiTapiola was a natural choice for a partner because of our earlier cooperation and their ownership in Intelligate I,” says Jyrki Meri, Regional Director, YIT.

For further information, please contact:

Jyrki Meri, Regional Director, Turku Region, YIT Construction Ltd, tel. +358 50 390 1176, jyrki.meri@yit.fi

Timo Tanskanen, Sales Director, Transactions, YIT Construction Ltd, tel. +358 40 357 0921, timo.tanskanen@yit.fi

Kaisa Kallio, Portfolio Manager, LähiTapiola, tel. +358 40 708 5288, kaisa.kallio@lahitapiola.fi

YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com