Union Investment Real Estate has made its second major investment in residential property with the purchase of The Hyperion development in Helsinki. Following on from UniImmo: Europa’s purchase of the Y-Towers project in Amsterdam, likewise in the residential segment, Union Investment’s sister fund — UniImmo: Deutschland — is now also gradually building strategic exposure to the European residential real estate markets.
Union Investment acquired the Hyperion project by way of forward funding for around €74 million ($88 million) from Scandinavian developer Skanska. The planned residential tower will comprise 216 residential units across 24 upper stories and total rental space of 10,537 square meters (113,420 square feet). It is slated for completion in second quarter 2023, with construction having commenced in early March. Hyperion is located in Vuosaari, an established housing submarket in the Finnish capital with excellent transport links. Helsinki’s central bu
