NREP’s Construction of Wooden Residential Buildings in Espoo and Turku

Castrén & Snellman advised NREP.

NREP entered into a frame agreement with Lehto Asunnot Oy on the construction of approximately 300 rental apartments out of wood in the cities of Espoo and Turku.

The projects are notable as examples of sustainable construction. The properties will use ecological geothermal heating as their energy solution in order to reduce climate impact during operational period. The carbon footprint of wooden apartment buildings is smaller than normal, and is further balanced by the carbon that is stored in the wood structures over the long term.

The buildings are estimated to be completed in 2021–2023.

At home in the Nordics, NREP is an integrated real estate product innovator, developer, investor and operator that seeks to make real estate better.

Castrén & Snellman team included Antti Kaakkola (Picture), Elina Marttala, Sanna-Mari Seppälä, Henri Monni, Aleksi Aakula and Jaakko Honkala.

Involved fees earner: Aleksi Aakula – Castrén & Snellman; Jaakko Honkala – Castrén & Snellman; Antti Kaakkola – Castrén & Snellman; Elina Marttala – Castrén & Snellman; Henri Monni – Castrén & Snellman; Sanna-Mari Seppälä – Castrén & Snellman;

Law Firms: Castrén & Snellman;

Clients: NREP;