Avance advises Hemsö, Sweden’s leading private owner of properties for public use, in its acquisition of the Helsinki Court House for approx. EUR 200 million.
The building has a total leasable area of nearly 50,000 sqm has been customised for the Ministry of Justice. The Finnish state is the largest tenant with various units under the Finnish Ministry of Justice, including the Helsinki District Court, Helsinki Court of Appeal, the Helsinki Legal Aid Office and the Prosecutor’s Office of Helsinki. The building was originally constructed in 1940 to provide office and factory premises for the Finnish state-owned alcohol company Alko.
Closing of the transaction is expected to take place in January 2019.