Trevian acquires Finland's most iconic arena

HELSINKI, Feb. 17, 2025 /PRNewswire/ -- Trevian Kasvu LP Ky, a real estate investment company managed by Trevian, has acquired a controlling stake in the Helsinki Arena. The transaction, finalized on February 17, 2025, follows an agreement signed in November 2024. Trevian was advised by Tuomas Poskiparta and Krogerus Attorneys, with Trevian Asset Management taking on the role of asset manager for the arena. The reopening of Helsinki Arena is expected to significantly enhance the city's cultural vibrancy and economic growth, providing a premier venue for sports, entertainment, and events.

Completed in 1997, Helsinki Arena has long been Finland's most important multi-purpose venue. It has been closed since February 2022 due to sanctions on its previous owners. With the acquisition, the arena is set to reopen in 2025. The deal was contingent upon a change in EU sanctions legislation and required regulatory approvals from the Ministry for Foreign Affairs and the National Enforcement Authority of Finland. An amendment to EU sanctions legislation enabling the transaction was passed in December 2024, with final approvals received in February 2025. The purchase price will remain with Finnish authorities for the duration of the EU sanctions.

- The negotiations lasted more than two years and proceeded in a spirit of cooperation. Despite the challenging circumstances, all parties shared the common goal of bringing Helsinki Arena back into operation, says Reima Södervall, CEO of Trevian Asset Management.

Plans for the arena's future include modernization and ESG-focused enhancements.

- The business environment for this transaction was challenging due to the EU sanctions legislation and the national Enforcement Code that had to be carefully considered. The broader real estate market slowdown has also stalled many transactions. A wide network of authorities was involved in the process, which required expertise, problem-solving skills, and perseverance. The contribution of advisors has been particularly significant in this context, Södervall notes.

The arena's closure has limited the ability to host large events in Helsinki in recent years. Its reopening will boost the city's tourism and restaurant sectors.

- Exciting news! With this transaction, we can finally reopen the arena for events. The three-year closure has significantly limited our ability to host sports events, concerts, and corporate events in Helsinki. Reopening the arena will have a tremendous impact on major events and cultural life, as well as on the economy and attractiveness of Helsinki and the entire country. Additionally, it will contribute to the development of the local service sector, says Juhana Vartiainen, Mayor of the City of Helsinki.

Trevian's plans extend beyond Helsinki.

- We are exploring other locations in Finland for multi-purpose arena projects that can benefit local economies and cultural offerings. Developing socially significant properties in Finnish cities is a key area for Trevian, Södervall states.

Trevian's commercial advisor for the transaction was Tuomas Poskiparta, with Krogerus Attorneys acting as legal advisor.

For additional information, please contact:

Kim Särs
Head of investment management, CCO
Trevian Asset Management
+358 40 501 9981
[email protected] 
 
Reima Södervall
CEO
Trevian Asset Management
+358 50 3627 400
[email protected] 

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SOURCE Trevian