Keva acquires Central Helsinki properties from Student Union

Finland's public sector pension insurer Keva has agreed to purchase the central properties of the Student Union of the University of Helsinki (HYY).

Student Union

HYY's real estate company, Ylva, managed the tender process earlier this year.
The property complex includes the Old Student House, Kaivotalo, Citytalo, and the Grand Hansa complex (which incorporates the New Student House). The specific purchase price has not been publicly disclosed.
With Keva as the new owner, these prime Helsinki city centre properties will have stable, domestic ownership. Keva will co-invest with Mrec Investment Management and HGR Property Partners, who will manage and develop the properties post-acquisition.
Carl-Henrik Roselius, Keva’s Real Estate investment director, stated: “The properties being bought now have a lot of potential for development, for example, to make them more attractive and improve accessibility. Together with our partners, we are developing commercially viable facilities for all. For example, we want to build bright, safe, and easily accessible internal corridors for the citizens throughout the central block.” 
Keva aims to enhance the properties' appeal and accessibility, developing commercially viable spaces and creating inviting internal corridors for the public throughout the central block. They intend to revitalise the Kaivopiha area once transaction arrangements are finalised.
Keva's investment strategy is to secure future pensions for municipal and welfare region staff, with real estate ownership and rental being a key component for generating returns.
Regarding the historically significant Old Student House, Keva acknowledges its cultural importance and is exploring the possibility of selling its culturally and historically valuable sections to a group being assembled by the University of Helsinki.