The Lappeenranta Parish Union sold two apartment buildings

Republished Lappeenranta Parish Union bulletin– Published February 28, 2024

Original press release: https://www.lappeenrannanseurakunnat.fi/uutiset/-/news/134795535

The Lappeenranta Parish Union owns a real estate company in Kivisalmi, Lappeenranta, consisting of two apartment buildings, 70 rental apartments, and a 3,189-square-meter plot of land.

The houses on Saarenkatu that are now being sold were completed in 1972 and 1973. The Lappeenranta parish union has a relatively large amount of real estate. We are considering and weighing up the use, maintenance costs, and suitability of all our properties and land holdings from the perspective of the parish union and as part of our normal strategic work, says CFOKari Virtanen. We received an offer from Horisontti Group, which we considered and decided to present to the joint church council for the sale of the share capital of Kiinteistöosakeyhtiö Saarenkatu 3-5.

At its meeting on January 31, 2024, the Joint Church Council decided to sell the shares in Saarenkatu 3-5 to Horisontti Group Oy. The deal was finalized on February 28, 2024, when the shares were transferred to the new owner. Chief Financial Officer Virtanen is pleased with the transaction. We will now focus on our other development projects and on developing the parish union's operations as a new entity.

With the sale, the apartments located at Saarenkatu 3-5, 53950 Lappeenranta, will be transferred to their new owner, Horisontti Group Oy. CEOMikko Niemeläsays that the sale to the parish union went smoothly.

Lappeenranta is a developing city with high demand for rental apartments. We believe that this property will require active involvement from its new owner in order to develop it and increase its residential comfort. The property will remain in rental use, and current tenants need not worry about the change of ownership, says Niemelä. 

The lease agreements will therefore be transferred as they stand to the new landlord, and the tenants' status will remain unchanged. At the same time as the management and ownership rights expire, the lease through the Lappeenranta Parish Union will also expire.

The Lappeenranta Parish Union warmly thanks the residents for the past years and wishes the residents of Saarenkatu 3-5 all the best for the future. The new owner, Horisontti Group Oy, warmly welcomes both former and new tenants!

On behalf of the company, we would like to extend our sincere gratitude to all our residents.  

The contracting parties will not disclose the purchase price of the sold properties.