Hannes Snellman Counsel to YIT in Co-Investment for Baltic Housing Investments
3 September 2021
Hannes Snellman acted as counsel to YIT in the establishment of a co-investment vehicle investing in rental apartments located in the Baltic countries with BTA Baltic Insurance Company AAS representing Vienna Insurance Group. YIT’s share of the co-investment is 30%, and the total investment capacity of the vehicle is EUR 120 million. At the same time, YIT also agreed on the sale of five rental apartment buildings in Tallinn, Riga, and Vilnius to the co-investment vehicle with a value of EUR 65 million. The parties have agreed that Lumi Capital, an external partner, will be responsible for the operations of the company as well as for the leasing of the apartments.