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Hemsö acquires three university properties in Helsinki

- Non-regulatory information

Hemsö has acquired three university properties in central Helsinki. The tenant is the University of the Arts Helsinki, which consists of the Finnish Academy of Fine Arts, the Sibelius Academy, and the Theatre Academy. The University of the Arts has signed new long-term lease agreements. The total investment volume, including renovation, is SEK 800 million.

All together, the properties house 2,000 students and 300 employees, and cover 25,000 sqm. Two of the properties are located in Töölö, in the district around Parliament House and several of Finland’s most famous museums. The third property is located in Berghäll, in the neighbourhood of the Fiskehamnen urban development project.

“Acquiring three university properties and increasing the share of educational properties with public-sector tenants in our Finnish portfolio is gratifying. We look forward to close, long-term collaboration with the University of the Arts, and are pleased to have the opportunity to manage and develop these fully customised properties with these academies and their traditions,” says Jarkko Leinonen, Hemsö’s Country Manager Finland.

The property housing the Sibelius Academy will undergo extensive renovations for the purpose of creating suitable modern educational premises. The seller of the property is Helsingfors Universitetsfastigheter AB.

The University of the Arts Helsinki provides education in the arts at the highest level as well as conducting research and artistic operations. The university was established in 2013 upon the merging of the Finnish Academy of Fine Arts, Sibelius Academy and Theatre Academy Helsinki. The three academies, all founded in the mid-1800s, have a long tradition in Finnish arts education and the history of art. The Sibelius Academy is Finland’s highest level of musical education and one of Europe’s largest music academies.