JLL Advises LähiTapiola Yhteiskuntakiinteistöt Suomi Ky on €244.8 Million Refinancing With Nordea, Swedbank and Danske Bank

LähiTapiola Yhteiskuntakiinteistöt Suomi Ky has closed a €244.8 million refinancing that extends the maturity profile of its Finnish real estate portfolio and improves key lending terms, according to an announcement dated June 23, 2026. Jones Lang LaSalle Finland Oy acted as debt and financial adviser on the transaction.

The new financing was provided by Swedbank, Danske Bank and Nordea. Danske Bank served as coordinator and agent for the arrangement. Legal counsel for LähiTapiola was provided by Hannes Snellman.

Transaction Structure and Terms

The refinancing carries a three-year term and includes two one-year extension options. According to the announcement, the transaction achieved improvements to loan terms despite an increase in the loan-to-value level. JLL's Eemeli Lehto, Head of Debt & Financial Advisory, said the deal secured the lowest margins in recent years alongside other material improvements relative to the prior financing arrangement.

"It has been a pleasure to support LähiTapiola in this refinancing. Lenders are very interested in financing high-quality Finnish real estate assets, and in this transaction we were able to achieve the lowest margins in recent years as well as other important improvements compared to the existing financing arrangement," Lehto said.

Borrower Perspective

Lasse Westberg, portfolio manager at LähiTapiola, said the transaction improves the organization's cash flow and adds flexibility for future portfolio management. He attributed the outcome to the quality of the underlying portfolio, which he said generated strong interest among lenders.

"The refinancing improves our cash flow and increases flexibility for future portfolio management. The outcome highlights the quality of our portfolio, which was reflected in strong interest among lenders. We are very satisfied with the result and with the continued support of our banks," Westberg said.

Adviser and Lender Background

Jones Lang LaSalle Finland Oy is the Finnish operating entity of JLL, a global real estate advisory firm listed on the New York Stock Exchange. JLL operates in more than 80 countries and employs more than 113,000 people. The firm's annual revenue stands at $26.1 billion, according to the announcement.

About LähiTapiola

LähiTapiola is one of Finland's largest financial and insurance groups, operating on a mutual ownership model. The group serves private individuals, entrepreneurs, farms, companies and communities across non-life insurance, life and pension insurance, and investment and savings products. LähiTapiola employs approximately 3,800 people and operates a nationwide network across Finland.

The specific properties comprising the LähiTapiola Yhteiskuntakiinteistöt Suomi Ky portfolio were not disclosed in the announcement.

Sources: JLL Newsroom, June 23, 2026