Ylva sells the Domus Academica C and D buildings to Unity Living

Ylva, owned by the Student Union of the University of Helsinki (HYY), has agreed on the sale to Unity Living of the C and D buildings of the Domus Academica property located in Leppäsuo, Helsinki. The transaction completes the overall restructuring of HYY’s real estate-related debt situation The property currently consists mainly of rental student apartments, and the buyer intends to continue operating the buildings as student housing.

The original Domus Academica property consists of four buildings. Buildings A and B were previously sold to the Foundation for Student Housing in the Helsinki region (Hoas), where they continue to operate as student housing.

The property being sold comprises 229 rental residential units as well as restaurant, office and retail premises. The transaction will not affect existing tenancy agreements.

“We are pleased that we found a buyer whose intention is to retain the buildings in student housing use. The transaction also completes the overall restructuring of HYY’s real estate-related debt situation,” says Mika Perkiö, CEO of Ylva.

“This acquisition marks a very important step for Unity Living as Helsinki is one of the strongest student cities in the Nordics. We are looking forward to enhancing Domus Academica with Unity’s brand of experience led student housing,” says Armon Bar-Tur, CEO of Unity Living.

“We have great respect for Domma’s history and for what it means to so many people. Domma was originally built to help ease the shortage of student housing, and that purpose remains at the heart of its future,” says Sini Pankka, Commercial Director at Unity Living.

The Domus Academica C and D buildings were completed in 1952 and 1968. Over the years, in addition to student housing, the premises have also hosted a student library, university lecture and reading rooms, as well as a hostel.

Newsec acted as Ylva’s advisor in the sales process. Fokus Nordic acted as advisor to Unity Living.

The parties have agreed that the purchase price will not be disclosed.

Further information:

Mika Perkiö
CEO, Ylva
Tel. +358 50 320 2293
mika.perkio@ylva.fi

Armon Bar-Tur
CEO, Unity Living
Tel. +41 79 138 8818
armon@unity-living.com