YIT sells part of the hybrid block in Lahti to OP-Public Services Real Estate

YIT has sold part of the hybrid block in the city centre of Lahti at Aleksanterinkatu 11 to the special fund managed by OP Real Estate Asset Management Ltd.

The sale includes the Kiinteistö Oy Lahden Hämeenkatu 12 and Kiinteistö Oy Lahden Mariankatu 12 companies, with a total leasable area of nearly 7,000 square metres. The value of the transaction is approximately EUR 16.5 million.

“We are pleased to have a modern location with a main user from the public sector in our fund. YIT has done good work in developing the location and this complex, which is located in the city centre of Lahti, is an excellent addition to OP-Public Services Real Estate special fund’s portfolio,” says Anni Lakanen, Portfolio Manager at OP Real Estate Asset Management Ltd.

The properties, originally completed in 1928, 1956 and 1973, are in a central location close to Lahti Market Square and they have been fully renovated to meet today’s standards.

“Most of the location’s modernised facilities, approximately 4,000 square metres, have been leased out to Päijät-Häme Joint Authority for Health and Wellbeing with a long-term lease. “We are happy about the completion of the transaction and the great cooperation with OP Real Estate Asset Management,” says Kari Löytynoja, Vice President, YIT.

Päijät-Häme Joint Authority for Health and Wellbeing’s operations will move gradually to the premises in the early part of 2021.

For further information, please contact:

Kari Löytynoja, Vice President, Business Premises, Häme and Southeast Finland, YIT Finland Ltd, tel. +358 (0)50 572 5209, kari.loytynoja@yit.fi

Anni Lakanen, Portfolio Manager, OP Real Estate Asset Management Ltd, tel. +358 (0)44 062 6740, anni.lakanen@op.fi

Tom Ekman, Executive Vice President, Business Premises, YIT Corporation, tel. +358 (0)40 7712514, tom.ekman@yit.fi

Heidi Kauppinen, Communications Manager, YIT Corporation, tel. +358 (0)40 574 3170, heidi.kauppinen@yit.fi

YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and living environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com