Avance advises Terveystalo Plc in the acquisition of the Finnish healthcare operations of Attendo AB (publ). The transaction - one of the biggest healthcare transactions in Finland - brings together two unique, industry leading healthcare companies that complement each other in terms of people, culture and competences.

The completion of the transaction is expected to take place late 2018, and is subject to approval by the Finnish Competition and Consumer Authority. The enterprise value of the transaction is reported at EUR 233 million on a cash and debt free basis.

Terveystalo is a listed company on the Helsinki Stock Exchange. Terveystalo is the largest healthcare service company in Finland based on net sales and network. The company offers versatile primary and secondary health care services for corporate and private customers and the public sector.

Attendo is the leading private provider of publicly financed care and healthcare services in the Nordic region. The company was founded in 1985 and was first to provide outsourced care for older people in Sweden. Attendo's Finnish healthcare operations include primary care, specialist care, staffing and dental clinics and have revenue of EUR 235 million.

Stockmann to sell its Book House property

Avance advises Stockmann plc (listed on Nasdaq Helsinki) in the sale of its Book House property in Helsinki city centre to AEW Europe City Retail Fund for a sales price of EUR 108.6 million.

The Book House has a gross leasable area of 8,861 square meters, and the largest tenants are Bonnier Books, HOK-Elanto, Isku Invest and Technopolis.

The Avance team included Christoffer Charpentier, Selinda Näse, Henrikki Tahkokallio and Jessica Grönholm.

LocalTapiola divests prime residential portfolio

Avance advises Tapiola KR IV Ky, a fund managed by LocalTapiola Real Estate Ltd, in the divestment of three prime residential properties located in Tapiola and Lauttasaari in the Helsinki Metropolitan Area to AXA IM - Real Assets, acting on behalf of its clients. The properties encompass a total of 89 apartments and a lettable area of approximately 5,632 sqm.

The Avance team included Christoffer Charpentier, Sari Wallgren and Jessica Grönholm.


Avance advises Special Investment Fund eQ Finnish Real Estate in the acquisition of Shopping Centre Malmin Nova from a fund managed by Savills Investment Management.

Malmin Nova is a 12,400 sqm shopping centre located in the Malmi railway and bus station in the Helsinki Metropolitan Area. The property consists of approximately 10,000 sqm retail and 2,400 sqm office and storage space and there are 42 tenants.

The Avance team includes Christoffer Charpentier, Björn Söderblom, Victor Fagerlund, Eeva Riivari, Jessica Grönholm and Toni Kuosmanen.