NREP sells office properties to eQ

Avance advises Nordic real estate investment company NREP in the sale of Hiomotie 30 and Gate8 office properties (located in Helsinki’s Pitäjänmäki and Aviapolis areas, respectively) to Special Investment Fund eQ Finnish Real Estate.


Avance advises Kielo, a real estate company managed by Brunswick Real Estate, in connection with its acquisition of a historical brewery property in Lahti, and the related renovation and extension project estimated to be completed in early 2020. Kielo has concluded a 20-year lease agreement with the City of Lahti concerning the Lahti Art & Design Museum, which will occupy approximately half of the some 8,500 sqm of premises to be situated on the property.

Zynga acquires Small Giant for USD 700 million

Avance advises Small Giant Games Oy and its shareholders in the sale of the company to Zynga Inc., a San Fransisco-based, NASDAQ-listed game developer. Small Giant Games is a Helsinki-based mobile game studio, one of the fastest growing mobile game companies in the world and the creator of hit mobile game franchise Empires & Puzzles.

Hemsö acquires the Helsinki Court House

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.