Sirius Capital Partners, through its Sirius Fund IV, has signed an agreement to acquire seven assets, consisting of 261 rental apartments, from Finnish construction company Hartela.
The assets, which are mainly located in the Helsinki region, are acquired pre-construction at a pre-determined price.
The total investment cost for the transaction is estimated at €55 mln.
Construction work will start in the coming months, while completion is expected in late 2023 and early 2024.
Patrick Gylling, CEO of Sirius Capital Partners, the investment advisor of Sirius Fund IV, said: ‘We are very excited to have been able to conclude this transaction with Hartela. We would like to thank everyone involved for a very smooth transaction.’
Launched in April by Finland-based real estate investment manager Sirius Capital Partners, Sirius Fund IV is a closed-ended real estate fund investing in build-to-rent residential assets in Finland, predominantly in the Helsinki region.
The investors in the €200 mln fund are international institutional investors, mainly from the US and the rest from Europe.
