LCN Capital Partners Finances the New Research and Development Campus for Nokia in Oulu, Finland in Build-to-Suit Transaction

The World-Class Research Campus is Expected to be Completed in 2025

New York, USA & Oulu, Finland – December 14, 2021 – LCN Capital Partners (“LCN”) today announced that it has closed on a build-to-suit investment with Nokia, a leading multinational telecommunications, networks infrastructure, and information technology company. Colliers International has advised Nokia on this transaction.

The 91,000 sqm campus will be located in Oulu, Finland. Upon completion, the campus will be leased to Nokia commencing upon completion for a fixed term of 20 years on a triple-net basis.

The campus will enable Nokia to continue to innovate and develop at the forefront of 5G technologies and beyond. The space has been designed to support the most advanced telecommunications networks research and development activities. The campus will accommodate new workspace demands, including purpose-driven and more collaborative office spaces. In addition, the campus in Oulu will be fully designed in line with Nokia’s long-term sustainability targets by incorporating ample sustainability features, high energy efficiency, and utilization of renewable energy and other carbon emission elimination strategies.

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.”   

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.”

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.”

About Nokia

Operating in circa 120 countries, Nokia is one of the world’s largest manufacturers of network solutions and a leading developer of 5G and 6G technologies. Nokia has over 3,000 essential 5G patents and 9 Nobel prizes. With over 155 years of heritage, the company boasts €21.9 billion in net sales in 2020. For more information, please visit:

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, and more than 15,000 enterprising professionals working collaboratively to provide expert advice to real estate occupiers, owners and investors. For more information, please visit:

About LCN Capital Partners

Founded in 2011 by Edward V. LaPuma and Bryan York Colwell, LCN has assets under management in excess of $6.0 billion across its seven funds. Headquartered in New York City, LCN also has offices in London, Amsterdam, Cologne, and Luxembourg.

LCN Capital Partners is a recognized leader in the primary sale-leaseback and build-to-suit markets, where investments and leases are directly originated with corporate users of mission-critical real estate. LCN delivers a long-term solution for its tenant-clients by providing a non-bank capital resource, efficient monetization of on-balance sheet real estate, continued operational control of key assets, enhanced financial metrics, and potential tax benefits. In addition, LCN’s investing partners benefit from the long-term and inflation-protected distributions that it supplies. For more information, please visit:

Media Contacts:

For LCN:
Kevin FitzGerald
Gasthalter & Co.
(212) 257-4170

For Colliers:
Anna Silkstone
Head of Content, EMEA
+44(0) 7858 193057


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