Nordic specialist Niam and Kuuskodit Investment Management have bought a seed portfolio from Toivo Group, comprising five constructed assets built in 2021-2022 to kick start a new JV for Finland family residential.
The portfolio, for which the value was not given, includes 117 apartments housed in modern terraced buildings, totalling 5,900 m2 of leasable area, located in Espoo and Turku.
With several projects already underway and in the pipeline, the pair say they are set to make a significant impact on the Finnish residential rental market,
Henrik Gerdin, Niam's fund manager, said: 'We have successfully invested in terraced housing sector in Denmark for several years and are thrilled to expand the strategy into Finland.'
Antti Muilu, country manager Finland, said the primary goal was to provide rental homes meeting the needs of modern housing standards in the Nordics. 'These terraced houses are designed to offer both privacy and community in a family-friendly setting.'
The JV is focussing on regions with a strong growth potential and accessibility to major cities.
Markku Jääskeläinen, CEO, Kuuskodit Investment Management, added: 'Our primary focus lies in energy efficiency and the utilization of sustainable building materials such as wood. This not only benefits the environment but also provides long-term value to our tenants.'
