NCC Housing in Finland has signed an agreement with Icecapital Housing Fund II for the sale of land and an accompanying housing contract for SEK 590 mln (EUR 58 mln). Apartment buildings, with a total of 330 apartments, are to be constructed on the land plots in Helsinki, Vantaa, Kerava and Jyväskylä.
NCC Housing in Finland has signed an agreement with Icecapital Housing Fund II for the sale of land and an accompanying housing contract for SEK 590 mln (EUR 58 mln). Apartment buildings, with a total of 330 apartments, are to be constructed on the land plots in Helsinki, Vantaa, Kerava and Jyväskylä.
'A year ago, we executed a similar transaction with Icecapital and we are delighted to able to contribute in this manner to more rental apartments coming on the market,' said Juha Korkiamäki, Country Manager for NCC Housing in Finland.
Work on the apartments has commenced and will be completed in 2011
Icecapital Housing Fund II is one of Finland's largest property funds that specialize in rental apartments. Since the fund was established in March 2006, it has acquired approximately 1,600 newly constructed or renovated rental apartments. The fund is backed by Pharmacy Pension Fund, Etera Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company and Mutual Insurance Company Pension Fennia.
