Ylva sells a hotel and residential building to Niam
28.3.2025
Ylva has agreed on the sale to Niam of the Lyyra block in Hakaniemi, Helsinki.
“Now is a logical moment for the sale, as the ambitious Lyyra project, which was started in 2018 and completed in 2024, has been completed. It is great that the Lyyra block, which has spurred the industry’s sustainability practices, will continue to be owned by a single owner. The sale is also part of balancing Ylva’s finances”, says Mika Perkiö, CEO of Ylva.
“It has been a pleasure to see that there has been widespread interest in the properties owned by Ylva despite the challenging market situation”, Perkiö adds.
The property is part of the Lyyra block developed by Ylva, which also includes an office building completed in 2023. The property is the second phase of the development project, completed in 2024, and consists of a hotel and residential building as well as commercial premises located on the lower floors of the buildings.
The hotel building is home to Finland’s first Citybox hotel and contains a total of 178 rooms and approximately 7,200 square meters of leasable area. The residential building has a total of 57 apartments and approximately 2,500 square meters of leasable area.
The property has invested heavily in energy efficiency, and both buildings have an energy class of A. Both buildings have also been awarded the LEED Platinum certificate.
“Niam has been an active investor in the Finnish market for several years, and with this acquisition, we are very pleased to increase our footprint in the heart of Helsinki with these high-quality assets”, says Antti Muilu, Country Manager, Niam.
Niam also currently owns the office building in the Lyyra block.
JLL acted as Ylva’s advisor in the sales process and Avance as the legal advisor.
The parties have agreed that the purchase price will not be public.
Further information:
Mika Perkiö
CEO of Ylva
050 320 2293
mika.perkio@ylva.fi
Matti Christersson
Real Estate Director
050 321 1840
matti.christersson@ylva.fi
