Finnish private residential real estate company Kojamo has secured a new €150 mln loan from SMBC Bank.
The facility, which is not backed by any collateral, is divided into a €100 mln revolving credit facility and a €50 mln term loan.
Kojamo plans to use the funding for general corporate purposes. The interest rate on the loan is tied to Kojamo’s sustainability performance.
Kojamo’s interim CEO and CFO Erik Hjelt commented: ‘We are very pleased to welcome a new financier among our relationship banks.’
Through its Lumo brand, Kojamo offers eco-friendly apartments and services for city dwellers who ‘prioritise quality and convenience’.
Kojamo’s rental apartment portfolio grew to 40,973 units by the end of Q3 2024, an increase of 781 units since the previous September. This growth is attributed to the completion of 779 new apartments, offset by the removal of 2 units.
The company maintains its 2024 outlook, projecting a 2-4% increase in total revenue and funds from operations of between €142 mln and €152 mln.
