Green development funding of EUR 65 million for Lyyra project

Avance advises Ylva and Helsingin Lyyra Ky in relation to Helsingin Lyyra Ky’s EUR 65 million development financing agreement for the Lyyra project development in Helsinki, Hakaniemi. The loan agreement signed with Nordic Investment Bank (NIB) and Nordea has seven years maturity.

Helsingin Lyyra Ky is a joint venture between Ylva and Varma, established for the Lyyra project in July 2021. The project will be completed in phases during 2023. After completion the development properties will include a hotel, offices, restaurants, and apartments. Overall, the leasable area is 18,400 square meters.

The Lyyra building complex aims to achieve a LEED Platinum certificate, which is the highest level of internationally recognized certification. All buildings are all also targeting an A level energy performance certificate, which is the highest possible according to the Finnish Ministry of Environment classification. In addition to sustainability aspects, also social responsibility matters are important in the project. In 2019, Lyyra was selected as one of the pilot projects to join the OECD’s B4IG (Business 4 Inclusive Growth) incubator and network.