D&I Real Estate Update

November 2023

Notwithstanding a relatively low number of Finnish real estate deals in 2023, we are delighted to let you know that we have strengthened our Real Estate, Construction & Environment practice by way of adding the talented Johanna Rämö to our team. Johanna is a real estate lawyer focused on real estate transactions, demanding lease arrangements, construction and other real estate related assignments. She has previously worked with leading Finnish housing and infrastructure service companies and complements our capacity to advise demanding corporate clients operating in the real estate and construction space. Johanna is also one of the speakers for our upcoming webinar on 7 November, which will discuss the impacts of insolvency on construction contracts.

Our latest real estate work relates to acquiring assets in the social infrastructure and logistics space, which continue to attract investor interest despite current market conditions. Drawing from our past experience on one of the largest Finnish social infrastructure transactions completed so far, we have written an article on the topic in collaboration with Director Erkki Hakala from Catella Corporate Finance.

We hope that you enjoy our webinar and article, all of which can be accessed through this newsletter. We will also be attending the Finnish Real Estate Summit (Kiinteistöalan Vuosiseminaari) organised in Tampere, Finland on 9 to 10 November – hope to see you there!

Practical Insights from Finnish Social Infrastructure Transactions

Social infrastructure assets continue to draw a considerable amount of attention from real estate investors. Dittmar & Indrenius’ Counsel Antti Aaltonen, Senior Attorney Tuomas Tiensuu and Director Erkki Hakala from Catella Corporate Finance provide us insights from Finnish social infrastructure transactions.

In-depth Advice in Large-scale Real Estate Transactions and Lease Arrangements

D&I Real Estate service area is known for providing in-depth advice in large-scale real estate transactions, often with cross-border elements covering large real estate portfolios. We also advise international and regional clients in their forest investments in Finland.


Selected deals

Acquisition of social and healthcare service facilities portfolio

We advised the Nordic infrastructure investor Infranode in the acquisition of 100% interest in 13 social and healthcare service facilities and their respective plots from the City of Jyväskylä in Central Finland.

Acquisition of a logistics property in Turku

We advised HANSA Europe Logistic Fund (managed by HANSAINVEST Real Assets GmbH) in its acquisition of a modern logistics and warehouse property located in the Port of Turku from private investors.

Acquisition of a portfolio of ten healthcare properties in Finland

We advised Aedifica and Hoivatilat Oyj in the acquisition of a portfolio of ten healthcare properties in Finland from Ilmarinen mutual pension insurance company to a total value of approximately EUR 82 million.


More by the same author

Vastuullisuus yrityskaupoissa

Dittmar & Indreniuksen laatima uusi opas “Vastuullisuus yrityskaupoissa” tarjoaa konkreettista ja käytännönläheistä tietoa siitä, millaisia vastuullisuuteen liittyviä asioita yritysten tulisi huomioida yrityskaupan eri vaiheissa. Lisäksi oppaassa käsitellään esimerkiksi hallituksen roolia ja vastuullisuuteen liittyviä verokysymyksiä. Opas on suunnattu erityisesti henkilöille, jotka haluavat saada kokonaiskuvan vastuullisuudesta osana yrityskauppoja.

New Act Governing Permitting and Construction of Offshore Wind Power within the Finnish EEZ Under Preparation

The Finnish Ministry of Economic Affairs and Employment has recently appointed a working group tasked to draft a new act that will govern permitting and construction of offshore wind power within Finland’s exclusive economic zone (the “Finnish EEZ“). The new act will provide an auction-based method for the purposes of granting project areas to interested developers as well as a new set of permits of offshore wind power projects in a situation where the existing legislation provides no functioning legal framework addressing these issues. No subsidies or other forms of State aid are planned to be offered.

Finnish Supreme Administrative Court Tightens Permitting Requirements for Wind Projects

In a recent yearbook decision (KHO:2023:73), the Supreme Administrative Court held that a developer must provide the key dimensions of wind turbine generators (“WTGs”), including tip height, rotor diameter and hub height, when applying for building permits required for construction of WTGs. The Court’s decision effectively reverses the current practice of providing the dimensions shortly before construction works are commenced, thus resulting in a more stringent regulatory environment for onshore wind projects as well as projects located on Finnish territorial waters. Projects located on the exclusive economic zone of Finland do not require building permits and, therefore, remain unaffected by the decision.

Latest insights

Vastuullisuus yrityskaupoissa

News / 22 Nov 2023
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The Data Act Approved by the European Parliament

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