Highlight 5 February 2018

Krogerus advises Finavia on divestment of majority interest in LAK Real Estate and related financing arrangements

Krogerus advised Finavia on the divestment of the majority interest of Finavia's subsidiary LAK Real Estate Oy and the related financing arrangements. In the transaction Finavia retained an ownership interest of 49% in LAK Real Estate Oy and a fund managed by NREP and a Finnish investment company Pontos Oy acquired ownership interests of 31% and 20%, respectively.

LAK Real Estate's portfolio comprises more than 136,000 square meters of lettable area, including notable buildings such as the Hilton hotel and the WTC office building located in the Helsinki airport area. In addition, LAK Real Estate is a significant land owner in the Aviapolis area.

Finavia's aim for the transaction was to expand the ownership base of LAK Real Estate with strategic investment partners to secure the existing and future development potential of the Helsinki airport area and the airport city Aviapolis.

The Krogerus team was led by partner Juha Wessman. He was mainly assisted by senior associate Joakim Jansson and associates Kalle Hakkarainen and Timo Rautiainen. Partner Antti Lehtimaja led the advice on tax matters and counsel Minna Korhonen advised on financing matters.

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