Patrizia is investing €101m to buy a residential property project in Finland from developer SRV.
The T7 Tower project in central Helsinki, comprising 240 apartments across a 24 storeys property, will be completed end of 2023.
Johan Öhlund Lagerdahl, country head Finland at Patrizia said: “This investment presented us with an exciting opportunity to purchase a modern residential asset with high-quality apartments and strong sustainability credentials that benefits from excellent connectivity.”
Lagerdahl said the Finnish residential market is supported by strong fundamentals and this latest deal follows Patrizia’s acquisition of a portfolio of multifamily residential properties in Helsinki earlier this year for around €145m.
Jörg Laue, the head of Patrizia’s transactions in the Nordics, said: “Patrizia has a strong track record over many years in the residential sector and this deep-rooted expertise allows us to source investments across Europe, including in the Nordics, where our footprint has expanded significantly in recent years.
“And Finland remains a key target for Patrizia and we continue to look for additional investment opportunities as we build our exposure here further.”
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