Catella advised in the sale of a public-use property in Seinäjoki

The property is Aallokko family centre that will be built as a part of the Seinäjoki station. The shares of the real estate company will be sold during the construction phase and the purchaser will take the responsibility on the development. The property is a part of the complex that comprises office and retail premises that will be owned by eQ as well. Additionally, the divestment includes Myllypuistokoti building complex.   

The property is leased with a long lease agreement to the City of Seinäjoki. The lease agreement will be transferred to the Wellbeing Services County of Southern Ostrobothnia from 1^st January 2023 onwards.

The purchase price, including property development, is approx. € 50 million. The buyer, eQ Community Properties Fund, is the largest domestic community and care property fund in Finland. Currently, the market value of the fund’s real estate portfolio is approximately 1.9 billion euros.

The City of Seinäjoki and eQ Community Properties Fund signed the sales and purchase agreement regarding the sale of the property in June 2022. The transaction has been approved by the City Board and is expected to be closed by the end of August 2022.  

Catella acted as the City of Seinäjoki’s exclusive financial advisor in the sales process. Bird & Bird acted as the seller’s legal advisor.

For more information, contact:

Erkki Hakala
Director
+358 50 3625 768
erkki.hakala@catella.fi

Markus Juvala
Director
+358 50 3737 540
markus.juvala@catella.fi