Adven convinced leading Nordic property investor: awarded three commercial geoenergy projects in Finland

The three landmark properties transition to locally produced geoenergy will happen between spring and summer 2026. Together, the projects will deliver substantial savings on both renovation investments and long-term energy costs. 

“For real estate investors, reduced energy costs and improved sustainability ratings enhance asset value, while also increasing tenant attraction”, says Timo Koljonen, VP for Real Estate, large properties at Adven.

“As companies optimize their use of space, they are becoming more selective about the space they occupy. The office is a key part of both their brand and their environmental footprint, as reflected in sustainability ratings such as EcoVadis. As a result, tenants increasingly prefer high-quality premises with strong certifications such as BREEAM. These are also spaces they are willing to tailor to their exact needs, investing in conversions, layout changes and other improvements to better support their business long-term. For property owners, this creates multiplied value: higher returns from upgrades, committed tenants who actively promote the property, and lower energy costs”, Jimi Bäck adds, Sustainability Reporting Manager at Adven.

Nordika is a leading Nordic investment firm specialized in value-add and impact-driven real estate asset investments, transforming underutilized and aging properties into institutional-calibre assets guided by a sustainability-focused, long-term vision. 

Through the partnership model, Adven owns the assets, finances the investments, and takes full responsibility for engineering, constructing, and operating the new energy systems. This ensures that the solutions are continuously monitored, maintained, and improved over time. For the client, it means access to state-of-the-art, low-carbon infrastructure without the burden of upfront capital costs, predictable and transparent energy expenses, and long-term performance security. 

“Simply put, Nordika can instead direct its resources towards expanding and upgrading its property portfolio”, Koljonen says.

As the buildings’ technical systems had reached the end of their lifecycle, the timing is ideal for a comprehensive energy upgrade. Engineering and implementing the new energy solutions in these properties is particularly demanding, as the plots are tight and the buildings will keep high occupancy rates throughout.

The projects

• In Leppävaara, Espoo, the 36,400 m² "Säterinportti" property, completed in 2000, will be upgraded with 58 geoenergy wells, geothermal heat pumps, an air-to-water heat pump, and an electric boiler.
• In Pitäjänmäki, Helsinki, the 15,200 m² "Takomo Base" property, completed in 1999, will be upgraded with 17 geoenergy wells, geothermal heat pumps, an air-to-water heat pump, an electric boiler, and rooftop solar panels.
• In Munkkiniemi, Helsinki, the 57,400 m² "Kaarnakampus" property, currently undergoing a major renovation, will be upgraded with 39 geoenergy wells, geothermal heat pumps, an air-to-water heat pump, an electric boiler, and solar panels.

“We’re excited to partner with Nordika. Working together is key to accelerating the energy transition in commercial real estate, and we look forward to building on this collaboration across Finland, Sweden, and Norway”, Koljonen concludes.

For more information, please contact:
Timo Koljonen, VP for Real Estate, large properties, Adven, +358 50 466 6999, timo.koljonen@adven.com

or Adven´s media contacts below.