An investment fund managed by Nordic asset manager NREP has agreed to sell a residential portfolio of 942 apartments in Finland to local rental housing specialist Kojamo for an undisclosed amount.
The portfolio consists of 13 assets in the Helsinki Metropolitan Area, Turku and Jyväskylä, with a leasable area of 32,000 m2. The assets, located adjacent to great local amenities and public transportation connections, have been developed by NREP and completed between the years 2017-2021. The portfolio is 100% BREEAM-certified and one of the assets is heated ecologically with geothermal heating highlighting the strong sustainability profile of the portfolio.
Petri Valkama, partner, head of Living, NREP said: ‘We focus on developing high-quality, sustainable rental housing that meet people's needs in the larger city regions that are growing. This enables us to create long-term housing solutions that deliver the best possible value for residents, communities and cities. The transaction is significant to us and reflects well how we have managed to create an investment strategy based on high-quality rental apartments that take sustainable development goals into account, and their attractiveness can also withstand changes in the market.’
Olli Turunen, head of Investment Unit, Kojamo added: ‘The properties to be acquired are an excellent fit with our strategy, and they strengthen Kojamo’s apartment offering in the areas in question. They are located in growing urban locations, close to good transport links, diverse services and opportunities for outdoor recreation.’
JLL acted as NREP’s sole commercial advisor in the transaction. Avance acted as the seller’s legal advisor in the transaction.
Source: propertyeu.info on the 24th of June