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Colliers facilitates transaction with LCN Capital Partners for Nokia’s new R&D facility in Oulu, Finland

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Campus will connect people, technology and nature

Colliers has negotiated on behalf of Nokia to secure LCN Capital Partners as the financing partner of the technology specialist’s new research and development facility in Oulu, Finland. The deal has been set-up as a forward funding and build-to-suit transaction.

The site, the Linnanmaa-Ritaharju plot, is 91,1000 square metres and the facility will be embracing Nokia’s brand by creating a place where people, technology and nature connect. The new campus will cater to the future ways of working, including moving towards purpose-driven and more collaborative office spaces. Estimated to be completed in 2025, the campus will enable Nokia’s continuous innovation and development at the forefront of 5G technologies. 

Erja Sankari, Head of Nokia Oulu site and Vice President, Global Supply Chain, at Nokia, said: “We are thrilled to be able to proceed with our plan to build a new Oulu Home of Radio campus. The new campus follows our vision of connecting people, technology, and nature, embracing the Nokia brand. We want to build a functional, scalable and sustainable campus to enable the best possible workplace experience that meets the needs for flexibility, productivity, collaboration, and innovation.” 

The city of Oulu, coined the ‘home of radio’, is preparing road relocation in the Linnanmaa-Ritaharju area to facilitate easy access to the campus. Construction will begin at full speed after the road relocation is completed during the summer of 2022. Negotiations continue with the developer candidates who will be responsible for the turn-key delivery of the construction project. 

Ian Hook, Global Transaction Lead at Nokia Real Estate, added; “The delivery of this project is of great importance to Nokia. With Colliers expert guidance we are pleased to have identified LCN Capital Partners as the best financing partner for Nokia. We look forward to the next stage, where we will select our development partner to deliver our state-of-the-art facility that will be designed in line with the Future Nokia Workplace concept and will endeavour to meet all the business’s sustainability targets.” 

Robert Campkin, Head of Corporate Capital Solutions, Occupier Services EMEA, at Colliers, said, “Colliers is delighted to have been able to partner with Nokia to develop an optimal strategy that meets both their financial and operational objectives for this new R&D facility. We analysed a vast number of financial structures to select the best outcome for Nokia and ran a focused marketing process, which included a short list of leading global financing partners to reach the best outcome for Nokia.”

Commenting on the opportunity to invest in such an R&D facility, Edward V. LaPuma, Co-Founder of LCN Capital Partners, said, “We value our tenant-clients and build strong relationships with them as a long-term partner. As a significant number of our investments are made with existing tenant-clients, we look forward to responding to Nokia’s needs in Oulu and growing our global footprint with them.”    

Legal adviser to Nokia were Roschier and Avance acted on behalf of LCN Capital Partners. 

In support of the transaction advice that Colliers is providing, has been the strategic development direction from the Project Management team. Sam Addison, Head of Project Management in Occupier Services EMEA, at Colliers explained, “We have been appointed to provide an integral link between the transaction team and the Finnish construction team to ensure the project progresses efficiently and fulfils Nokia’s aspirations for this build-to-suit R&D campus. Our Major Projects Advisory service draws upon lessons learnt across Europe when working on large-scale build to suit transactions for occupiers providing bespoke construction solutions.”
 

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