Lemminkäinen and NCC sell third phase of Business Park in Espoo
LEMMINKÄINEN CORPORATION PRESS RELEASE 28 September 2011 AT 4.45 PM
LEMMINKÄINEN AND NCC SELL THIRD PHASE OF BUSINESS PARK IN ESPOO
On 26 September 2011, Lemminkäinen Talo Oy and NCC Property Development Oy sold Castor, the third phase of Polaris Business Park, to the German company IVG Institutional Funds GmbH, which is a subsidiary of IVG Immobilie AG. The acquisition was agreed on in January 2011. The project has been completed and the terms of the sale have been achieved.
The construction of Polaris Business Park is the responsibility of a consortium consisting of Lemminkäinen and NCC. Castor’s main tenant is Leaseplan. Castor’s total extent is 7,500 gross cubic metres, also including 146 parking spaces. Approximately 65 per cent of Polaris Castor’s facilities have been leased. Lemminkäinen and NCC have the lease liability for unleased facilities, however, for a maximum of two years.
Once completed, Polaris Business Park in Espoo will consist of five office buildings and a multi-storey car park. Its total area will be 37,500 gross cubic metres, with about 740 parking spaces.
Lemminkäinen Talo Oy
Puh. 020 715 3208
NASDAQ OMX Helsinki Ltd
Lemminkäinen Group operates in all areas of the construction sector. The Group’s business sectors are Building Construction, Infrastructure Construction and Technical Building Services. Net sales in 2010 were around EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs an average of 8,000 people. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.fi