The Student Union of the University of Helsinki has approved the sale of its central real estate holdings to the public sector pension insurer Keva.
Ylva, the Student Union’s real estate company, launched an open tender earlier in the year, resulting in Keva submitting the winning bid. The transaction covers several landmark buildings in the Helsinki CBD, forming one of the most significant concentrations of properties in the district. The portfolio includes Kaivotalo, Citytalo and the Grand Hansa complex—all located within the same continuous block—as well as the Old Student House, which is situated directly next to the block. The assets also include the HH Hansa hotel with 224 rooms, opened in 2024, along with office and retail premises.
Helsingin Sanomat has reported the purchase price as 187.7 million €. The lettable area of the portfolio is 45 000 m², resulting in a price level of 4 200 €/m² .
The sale was initiated under pressure from the banks that have financed Ylva’s properties. Keva will take ownership together with co-investors Mrec Investment Management Oy and HGR Property Partners Oy, who will be responsible for the management and future development of the buildings.
As part of the transition, Keva has begun examining options for transferring the culturally and historically valuable parts of the Old Student House to a suitable new custodian, such as a group associated with the University of Helsinki.