Swedish community property specialist Hemsö has acquired the Paavola campus in central Lahti, Finland. The acquisition includes buildings and ongoing projects within the campus and includes about 30,000 sq m of space. The buildings will be renovated and more will be developed involving a total investment of about € 85 million.
The City of Lahti will be the tenant having signed 20-year leases for the space which commence once respective projects have been completed.
The acquisition is the largest project in the municipality’s history and will be completed in stages during 2021–2023.
The campus accommodates about 2,500 pupils and students at preschool, primary, secondary and adult education levels.
“We see the collaboration with the city as very interesting as they have a great need for educational places and other social infrastructure,” said Hemsö head of Finland Jarkko Leinonen.
Lahti is located about 90 km north east of Helsinki. It is the capital of the Päijänne-Häme region and has around 120,000 inhabitants.
Hemsö already owns approximately 100,000 sq m of educational property in Finland.