Hanken School of Economics acquires its properties in Helsinki and Vaasa
Hanken School of Economics has on 1 September 2015 signed an agreement to buy its properties in Helsinki and Vaasa. Both properties will thus be owned by Hanken as of this date. The seller is the property investment company Helsingin yliopistokiinteistöt Ltd, in which Hanken has been a shareholder with a 2.3% stock share. These shares will now be released back to the company.
- When the public utility, Senate Properties, sold the state-owned shares in the university property investment company, Hanken saw an opportunity to make an investment that supports our aspirations to be an independent business school. As Hanken saves 1.5 million euro in annual rental charges, this will be a good investment, explains Hanken’s chairman of the board Björn Wahlroos about the circumstances behind the transaction.
The transaction has been preceded by a thorough due diligence, including a valuation of the properties, an inspection of the current condition of the properties, and an estimate of future renovation needs.
- The due diligence has shown that both properties are in good condition, which makes them sound objects for Hanken to invest in, comments Hanken’s Rector Karen Spens.
More information:
Mauno Lindroos, Head of Administration
mauno.lindroos@hanken.fi
050 564 3787