YIT AND ETERA SELL PROPERTIES LOCATED IN KOSKELO, ESPOO, TO HANSAINVEST FROM GERMANY
YIT Construction Ltd., Etera Mutual Pension Insurance Company and HANSAINVEST Hanseatische Investment GmbH have signed agreements according to which YIT will sell approximately 5,500m2 and 8,300m2 and Etera approximately 6,300m2 of commercial and storage properties to Hansainvest. The approximate value of the agreements is EUR 30 million.
The first stage of the Koskelo Trade Park consisted of the renovation of an existing building, completed in 2006. This property is being sold by Etera. The second stage, a new construction of approximately 5,500 m2, will be completed in November 2008. The construction work for the third stage has already begun, and is planned to be completed in the summer 2009. The second and third stages are being sold by YIT Construction Ltd.
Current tenants in the property include Ruukki Construction, Caravan Center, Saint-Gobain Autover Finland and Aga. The main tenants in the second stage will be Ilmapallokeskus Balloon Center, Mixtec and Eaton Power Quality. The tenants of the third stage will include Barfix among others.
For more information, please contact: YIT Construction Ltd, Seppo Martikainen, Vice President, Transactions, tel. +358 20 433 2905, firstname.lastname@example.org
Etera Mutual Pension Insurance Company, Timo Sotavalta, Real Estate Director, tel. +358 10 553 3637, email@example.com
HANSAINVEST, Nils Keggenhoff, Senior Manager Acquisitions & Sales, tel + 49 (0)151 16 74 46 55, firstname.lastname@example.org
YIT OYJ Juha Kostiainen Senior Vice President Corporate Communications and Business Development
YIT is a successful European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in Nordic countries, Russia, Baltic countries and Central Europe. In 2007, YIT's revenue amounted to EUR 3.7 billion. The Group employes more than 25,000 people. YIT's share is listed on OMX Nordic Exchange Helsinki. www.yitgroup.com