Bird & Bird advised Logicenters on transaction regarding the purchase of a logistics center
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Counsel
Finland
I am a Counsel in our Finnish Real Estate Group in Helsinki, where I assist our clients with my extensive specialist knowledge of real estate, corporate and M&A matters.
Partner
Finland
I am the head of our Real Estate and Infrastructure Group in Finland and wider Nordic level. My approach to client work is strategic, pragmatic and business oriented. I have a vast array of experience in complex real estate and infrastructure, corporate and dispute resolution matters.
Senior Associate
Finland
I am a Senior Associate in our Dispute Resolution Group in Helsinki, where I work on real estate and construction related matters. I also take part in real estate transactions, as well as development projects. Due to my background in the start-up scene, I advise on related Corporate Group's matters.
International law firm Bird & Bird advised Logicenters, which is responsible for logistics investments for the Nordic real estate investment company Nrep, on purchase of the new logistics center in Mäntsälä from Tokmanni. The property was completed in November 2023. Tokmanni will remain as a tenant in the building with a long-term rental agreement.
In 2021, the logistics real estate operator Logicenters and retail company Tokmanni signed a project agreement for Logicenters to develop a new logistics property of 55,000 m2 in Mäntsälä, Finland. Tokmanni already has a main warehouse and a head office in the area. The project agreement in 2021 stipulated that Tokmanni would sell the property to Logicenters upon completion and lease back the premises in a 20-year rental agreement.
The building is certified according to BREEAM Very Good and has Finland's largest roof-mounted solar power plant installation, with 1,4 GWh annual electricity production capacity.
Our assignment included all legal advice and support for Logicenters during the entire arrangement and transaction. In the core of the arrangement was the agreement package consisting of the project agreement, the lease agreement and the share sale and purchase agreement.
From the Bird & Bird team the project was led by Counsel Tuukka Korhonen. Other experts of our team were Associate Noora Kähkönen and Senior Associate Jenny Rontu. Partner Jaakko Hietala acted as a responsible partner.
Jarkko Äikää, Commercial Director at Logicenters Finland comments: “It was once again very easy and straightforward to collaborate with Bird & Bird’s experts. Their strong and extensive knowledges of both real estate transactions and real estate development projects as well as their great ability to understand the goals and objectives of both parties were in a considerable role in various phases of the project and in the execution of this arrangement. It was a pleasure to work closely with the Bird & Bird team in this project.”
Please find Logicenter’s announcement here: Logicenters acquires and leases to Tokmanni in Finland – Logicenters