HELSINKI, February 17, 2025 — Trevian Kasvu LP Ky, a real estate investment firm managed by Trevian, has taken a controlling interest in Helsinki Arena. This acquisition, completed on February 17, 2025, follows a November 2024 agreement. Trevian received guidance from Tuomas Poskiparta and Krogerus Attorneys, with Trevian Asset Management appointed as the arena’s asset manager. The reopening of Helsinki Arena is anticipated to significantly boost the city’s cultural scene and economic growth, offering a top-tier venue for sporting events, entertainment, and other functions.

Opened in 1997, Helsinki Arena has long served as Finland’s premier multi-purpose venue. Its closure since February 2022 stemmed from sanctions imposed on its previous owners. The acquisition paves the way for its 2025 reopening. The deal hinged on a change in EU sanctions regulations and required regulatory approval from the Finnish Ministry for Foreign Affairs and National Enforcement Authority. An amendment to the EU sanctions legislation, facilitating the transaction, was passed in December 2024, with final approvals granted in February 2025. The purchase price will remain under the control of Finnish authorities for the duration of the EU sanctions.

– The negotiations, spanning over two years, were conducted collaboratively. Despite the complexities, all parties shared the objective of resuming operations at Helsinki Arena, says Reima Södervall, CEO of Trevian Asset Management.

Future plans for the arena encompass modernization and environmentally conscious upgrades.

– The transaction’s business environment presented challenges due to EU sanctions regulations and the national Enforcement Code, which required meticulous consideration. The broader real estate market slowdown also hampered many deals. Numerous authorities were involved, demanding expertise, problem-solving, and persistence. Our advisors’ contributions were particularly crucial, Södervall adds.

The arena’s closure has curtailed Helsinki’s capacity to host major events in recent years. Its reopening will benefit the city’s tourism and restaurant industries.

– Wonderful news! This acquisition enables us to finally reopen the arena. The three-year closure significantly limited Helsinki’s ability to host sporting events, concerts, and corporate functions. Reopening will significantly impact major events and cultural life, as well as Helsinki’s and the nation’s economy and attractiveness. It will also boost the local service sector, says Juhana Vartiainen, Mayor of the City of Helsinki.

Trevian’s ambitions extend beyond Helsinki.

– We are exploring other Finnish locations for multi-purpose arena projects that can enhance local economies and cultural offerings. Developing socially beneficial properties in Finnish cities is a key focus for Trevian, Södervall states.

Trevian’s commercial advisor for the transaction was Tuomas Poskiparta, with Krogerus Attorneys providing legal counsel.

For additional information, please contact:

Kim Särs
Head of investment management, CCO
Trevian Asset Management
+358 40 501 9981
 
 
Reima Södervall
CEO
Trevian Asset Management
+358 50 3627 400
 

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