Union Investment has agreed to acquire the planned Urban Environment House office property in Helsinki via a forward purchase agreement. The property consists of 27,500 sqm of rental space and is being constructed in the Kalasatama submarket, a key inner-city development area of Helsinki. 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 of the asset is EUR 165 million, marking Union Investment’s largest single property investment in Finland to date. Mrec acted as the advisor to Union Investment in the transaction.

Link to press release