Sanoma sells Sanoma House

Avance advises Sanoma Corporation in the sale of Sanoma House, its largest office building in the centre of Helsinki, to German Deka Immobilien for EUR 176 million. The transaction is one of the biggest ever among office buildings in the central business district.

The property incorporates Sanoma’s strategic multi-channel functions in Finland, such as the editorial offices of the two largest newspapers, Helsingin Sanomat and Ilta-Sanomat, as well as TV and radio operations. Sanoma will remain a tenant in the property with a long-term lease agreement.