Trevian secures Helsinki Arena in major acquisition, paving the way for its grand reopening

Helsinki Arena, Finland’s most iconic multi-purpose venue, is set for a long-awaited reopening following a landmark acquisition by Trevian Kasvu LP Ky, a real estate investment firm managed by Trevian. The deal, which closed on February 17, 2025, grants Trevian a controlling stake in Helsinki Arena, positioning the company as a key player in Finland’s commercial real estate sector. The transaction follows an agreement signed in November 2024 and was contingent upon changes to EU sanctions legislation, along with regulatory approvals from Finland’s Ministry for Foreign Affairs and the National Enforcement Authority of Finland.

The acquisition marks a significant turning point for the arena, which has remained closed since February 2022 due to EU-imposed sanctions on its previous owners. With the deal finalized, Helsinki Arena is expected to resume operations in 2025, restoring its status as a premier venue for sports, concerts, and major international events. Trevian Asset Management has assumed responsibility for overseeing the property, while Krogerus Attorneys served as legal advisors in the transaction.

Regulatory hurdles and legal approvals enabled the transaction

The reopening of Helsinki Arena was not without challenges, as the deal required extensive regulatory scrutiny due to its ties to EU sanctions legislation. A legislative amendment passed in December 2024 provided the legal framework needed to proceed with the transaction, allowing Finnish authorities to facilitate the change in ownership. As part of the agreement, the purchase price of Helsinki Arena will be held by the authorities for the duration of the EU sanctions.

Industry experts have highlighted the complexity of the deal, noting that the business environment for large-scale real estate acquisitions remains challenging due to regulatory constraints and a broader slowdown in the real estate market. The transaction required coordination between multiple governing bodies, emphasizing the need for expertise, problem-solving capabilities, and in-depth legal knowledge to ensure compliance with Finnish and EU regulations.

Helsinki Arena reopening expected to boost tourism and local economy

The return of Helsinki Arena is projected to deliver a significant boost to Helsinki’s economy, particularly within the tourism, hospitality, and entertainment sectors. The venue has long been a central hub for international concerts, sports events, and corporate gatherings, but its closure since 2022 has limited the city’s ability to attract large-scale international events.

With the reopening of Helsinki Arena, local businesses—especially in the restaurant, hotel, and event planning industries—are expected to experience a resurgence in demand. Industry analysts have suggested that the arena’s return will enhance Helsinki’s cultural appeal, making it a more attractive destination for both tourists and corporate event organizers.

City officials have expressed optimism about the arena’s future, emphasizing that its reopening will play a key role in revitalizing Helsinki’s event sector. The ability to host major sports tournaments, concerts, and exhibitions is seen as an essential step in strengthening Finland’s position as a leading destination for international events.

Trevian’s long-term strategy includes expansion beyond Helsinki

Trevian’s acquisition of Helsinki Arena is part of a broader strategic vision aimed at expanding its portfolio of multi-purpose arenas across Finland. The company has indicated that it is actively exploring opportunities in other cities, identifying locations where large-scale event venues could provide economic and cultural benefits to local communities.

By focusing on developing socially significant properties, Trevian aims to contribute to the long-term sustainability of Finland’s commercial real estate market. The company’s approach involves integrating modernization initiatives and ESG-focused enhancements, ensuring that its venues align with global sustainability standards.

Modernization plans set to enhance Helsinki Arena’s appeal

Beyond simply reopening the venue, Trevian has announced plans to invest in the modernization of Helsinki Arena, ensuring that it remains a state-of-the-art facility capable of hosting world-class events. The renovation process is expected to incorporate sustainability-focused upgrades, making the arena more energy-efficient while also improving its technological infrastructure.

Experts within the real estate and event management industries have noted that modernization efforts will be crucial in maintaining Helsinki Arena’s competitive edge against other European venues. As global event organizers seek locations that offer both top-tier amenities and environmentally responsible operations, the arena’s ability to meet these standards will be key to attracting high-profile international bookings.

Helsinki Arena’s future as a premier destination for global events

With the acquisition of Helsinki Arena, Trevian has not only secured control of Finland’s most iconic event venue but also set the stage for a broader transformation of the nation’s entertainment and sports infrastructure. The reopening is expected to have a long-lasting impact on Helsinki’s cultural and economic landscape, reinforcing its position as a leading destination for international events.

As Helsinki Arena prepares to reopen in 2025, the focus will now shift toward finalizing modernization plans, securing event partnerships, and maximizing the venue’s economic potential. With Trevian at the helm, the arena is poised to enter a new era of growth, ensuring its continued role as a pillar of Finland’s entertainment industry.