Laakkonen

What Laakkonen does

Laakkonen Kiinteistöt Oy is a Finnish family-owned real estate investment and property management company headquartered in Joensuu, operating a portfolio of approximately 15 commercial properties totaling ~93,000 m² of rentable floor area across Finland, with concentrations in the Helsinki metropolitan area, Tampere, Kuopio, and Joensuu. The company's core offering comprises commercial property rental (retail, office, production, warehouse, and showroom space), property acquisition and resale (focused on income-generating assets with existing tenants), and ground-up commercial development, with ~75,000 m² of unused building rights in Helsinki, Vantaa, Tampere, and Joensuu providing a multi-year development pipeline. Anchor and named tenants include Hedin Automotive (Helsinki, ~10,683 m²), BLC Turva (Vantaa, Petikontie 6), and Jysk Oy (Joensuu, Käpykangas development).

The business is a direct-to-enterprise model with no marketplace or reseller layer: prospective tenants and sellers initiate contact via the company website and dedicated personnel. The company was originally founded in 1925 as a timber trader (Puutavaraliike Tauno Laakkonen), pivoted to automotive retail from the 1960s onward, and in the 2020s sold all automotive operations to Hedin Automotive, repositioning the entity as a pure-play real estate investor. FY2024 consolidated revenue was €9.2M with €4.8M operating profit, €90.1M total assets, €53.4M equity, and a 37.2% gearing ratio, with a lean team of ~11 employees including a CEO (Jaakko Onali, appointed August 2025), CFO, Head of Real Estate, real estate managers, and analysts.

No proprietary technology platform or AI system is disclosed; the operating model is relationship-driven, asset-heavy real estate ownership and development. Revenue mechanics are split between recurring rental income (the principal model) and one-time property sales, with non-core Kytäjä Golf A-share sales providing a marginal additional stream.

Name

Laakkonen

Legal name

Laakkonen Kiinteistöt Oy

Website

https://laakkonen.fi

Company type

Private

Founded year

1925

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Laakkonen Kiinteistöt Oy is a Finnish family-owned commercial real estate investor and developer, operating ~15 properties (~93,000 m²) across Helsinki, Vantaa, Tampere, Joensuu, and other cities, with ~75,000 m² of unused building rights supporting further development.

Ownership category

akta.pro rank

Product category

Commercial Real Estate

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Office Property Management (BPAJAGAA)

Keywords

• Commercial property rental
• Commercial real estate investment
• Property development
• Property acquisition sales
• Real estate asset management

Headquarters

HQ city

Joensuu

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain, Others

Revenue model

1. Commercial Property Rental: Rental income from commercial and retail properties across Finland, including automotive showrooms, warehouses, production facilities, and office spaces.
2. Property Sales: Acquisition and development of properties for sale, including recent purchase from Julius Tallberg-Kiinteistöt Oyj and new development projects.
3. Golf Share Sales: Sale of Kytäjä Golf A-shares, a non-core activity from the company's historical holdings.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Laakkonen Kiinteistöt Oy owns, leases, acquires, and develops commercial real estate in Finland — primarily retail, office, production, warehouse, and showroom spaces across roughly 15 properties in Helsinki, Espoo, Vantaa, Kuopio, Joensuu, Kerava, Raisio, Porvoo, and other cities, totaling approximately 93,000 m² of rentable space. The company also actively acquires income-generating properties with existing tenants and develops new commercial buildings (e.g., a ~3,000 m² retail property in Joensuu anchored by Jysk Oy) using its approximately 75,000 m² of unused building rights in prime Finnish growth centers.

Product overview

Laakkonen Kiinteistöt Oy is a Finnish family-owned real estate company that transitioned from the automotive business. The company operates as a real estate investor and property manager, offering commercial property rental services (retail, office, production, and warehouse spaces) across Finnish growth centers including Helsinki metropolitan area, Kuopio, Joensuu, and other major cities. The company also engages in property acquisition and sales, as well as new property development and construction projects. Additionally, Laakkonen sells golf shares for Kytäjä Golf course. The portfolio includes approximately 15 properties totaling about 93,000 square meters of rentable space.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Property Rental Rental of commercial real estate — retail, office, production, warehouse, and showroom spaces — across Finnish growth centers including Helsinki, Espoo, Kuopio, Joensuu, Kerava, Raisio, Porvoo, and other cities. Targeted at businesses of varying sizes needing well-located commercial premises.
• Property Acquisition and Sales Laakkonen buys commercial properties with existing rental income streams and existing tenants to strengthen its portfolio, and lists selected properties for sale. Targeted at property owners wishing to dispose of investment properties and at Laakkonen's own portfolio management. Recent example: acquisition of the Petikontie 6 property in Vantaa (5,600 m², BLC Turva Oy as main tenant) from Julius Tallberg-Kiinteistöt Oyj in April 2026.
• Property Development and Construction Build-out of new commercial buildings on Laakkonen's owned land reserves (~75,000 m² of unused building rights across Helsinki, Vantaa, Tampere, and Joensuu). Targeted at businesses needing bespoke retail, warehouse, or office space in Finnish growth centers.
• Kytäjä Golf A-Share Sales Sale of Kytäjä Golf A-shares from Laakkonen's historical holdings. A non-core, opportunistic offering targeted at individual buyers or investors seeking a share in a Finnish championship golf course.

Quantifiable outcome

• 93,000 m² of rentable property area
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Pohjois-Karjalan kauppakamari (North Karelia Chamber of Commerce)coreStrategic or Co-development Partner · 12 June 2026Chamber of Commerce initiated and coordinated the art project for Joensuu city center. Laakkonen Kiinteistöt is one of 21 donors and partners in the European Forest Capital art installation project.
• Julius Tallberg-Kiinteistöt OyjminorStrategic or Co-development Partner · 28 April 2026Seller of Petikontie 6 property in Vantaa. Laakkonen acquired this commercial property to strengthen portfolio in Helsinki metropolitan area.
• Rakennustoimisto Eero Reijonen OycoreImplementation/ SI/ Consulting Partner · 10 October 2025Main contractor for the Käpykangas commercial development project in Joensuu Voimatie. Project valued at approximately €5 million with completion in autumn 2026.
• L3 Toimitilat OyminorOthersPartner company shown on Laakkonen website.
• Rebl GroupminorOthersPartner company shown on Laakkonen website.

Scale indicators11 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Citycon Oyj: Finnish-listed owner and operator of grocery-anchored retail and mixed-use commercial properties across the Nordics. Most directly comparable on the listed Nordic commercial REIT side and notably the previous employer of incoming Laakkonen CEO Jaakko Onali, suggesting shared underwriting practices and tenant-mix approach.
• Sponda Oy: Finnish commercial property owner-operator (office, retail, logistics) acquired by Blackstone. Closely mirrors Laakkonen's profile: Finnish commercial portfolio, owner-operator model, anchor-tenant orientation, and balance-sheet-driven growth—though at materially larger scale.
• Julius Tallberg-Kiinteistöt Oyj: Finnish family-controlled commercial real estate company that sold the Petikontie 6 asset to Laakkonen in April 2026. Same geographic footprint (Helsinki metropolitan area), same office/industrial tenant profile, and similar family-owned governance—making them the closest peer by both size and operating model.
• Antilooppi Oy: Finnish owner and operator of office properties with a focus on Helsinki metropolitan area assets and flexible workspace solutions. Comparable as a Finnish commercial property operator with a similar tenant-mix orientation but a stricter office focus vs. Laakkonen's mixed-use approach.

Broad incumbents

• Kojamo Oyj: Largest Finnish residential rental REIT, listed in Helsinki. Comparable as a Finnish listed property company executing a long-term portfolio strategy across Finnish growth centers, but with a pure-residential focus distinct from Laakkonen's commercial orientation.
• Keva: Finland's largest public-sector pension insurer and one of the country's largest real estate investors, with diversified Finnish office, retail, and logistics holdings. Comparable as a long-horizon Finnish owner of commercial real estate but operating at institutional-scale with a much broader portfolio.

Emerging players

• Hartela-yhtiöt Oy: Finnish family-owned construction and project development company active in commercial, residential, and renovation projects across Finland. Comparable in family-owned Finnish governance profile and ability to develop anchored retail/office product similar to Laakkonen's Käpykangas project.
• YIT Oyj: Major Finnish and Baltic construction/development group with growing commercial real estate investment segment. Comparable in Finnish growth-center development execution but materially larger and more diversified across residential, infrastructure, and commercial.
• SRV Yhtiöt Oyj: Finnish-listed construction and developer focused on commercial, retail, and mixed-use projects in growth centers including Helsinki metropolitan area and Tampere. Comparable as a developer of infill commercial product with anchor-tenant orientation, though more project-based and less of a long-term landlord than Laakkonen.

Others

• eQ Oyj: Finnish-listed asset manager with dedicated real estate funds investing in Finnish and Nordic commercial properties. Comparable as a Finnish commercial real estate capital allocator, though operating as an external fund manager rather than direct property owner like Laakkonen.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Laakkonen