The Helsinki Resi project costs 100 million euros
German investor Union Investment has bought the Atlas project in Helsinki from the Nordic construction and project development company Skanska.
The Union will pay EUR 100 million of its assets set aside for the Unimmo: Global Fund.
The 33-storey residential tower consists of 288 apartments and three retail units on the ground floor, with a total leasable area of 15,952 m2.
Union Investment entered the Finnish housing market for the first time earlier this year by purchasing the adjacent Hyperion tower, which is also being developed by Skanska. The Atlas project has also been pre-funded and is due to be completed by the last quarter of 2024.
” As the last parts of the Dolphin Block development system, Atlas and Hyperion will complement the southern part of the established Vuosaari residential area. Given the current additional demand, prominent location and high building quality, we rate the rental prospects for both residential towers as very good, ” said Martin Schellein, Head of Investment Management Estate at Union Schement.
” The development of Vuosaari tower blocks has been interesting and rewarding. Atlas is Skanska’s tallest building in Finland. I am glad that our cooperation with Union Investment will continue alongside this new project, ” said Jukka Haparanta, Skanska’s project development director.