Finnish real estate manager Sirius Capital Partners has acquired three apartment buildings in Helsinki, Finland, for €35 mln, for its new residential investment vehicle.
Purchased from listed Finnish residential developer Toivo Group Oyj, the three separate buildings contain 240 modern apartments built between 2021 and 2023 in the expanding Helsinki commuter region (Kirkkonummi and Järvenpää).
The energy-efficient properties feature strong ESG credentials, including geothermal heating and planned solar panel installations.
Jonas Ahlblad, CIO of Sirius Capital Partners, commented: ‘These newly-built residential assets with attractive micro-locations are an excellent fit to our residential portfolio. We are very impressed with Toivo's approach in planning and executing all these assets in an energy-efficient manner with best-in-class A energy ratings.’
Toivo Group Oyj CEO, Markus Myllymäki, added: ‘The cooperation with Sirius Capital Partners during the transaction process has been excellent, and we hope to deepen our collaboration with the buyer in the future.’
Toivo Group is focused on developing, building, and owning rental apartments in Helsinki, Turku, and Tampere. As part of a strategic shift announced with their 2023 financial results, Toivo has sold some of its finished, energy-efficient, well-connected apartments to a new fund managed by Sirius Capital Partners. This sale frees up capital for Toivo to invest in developing and constructing new projects.
