Funds managed by Nordic private equity real estate investor Slättö have agreed to acquire two residential portfolios in Finland for a total transaction value of €130 mln.
The two separate transactions were made with Finnish institutional investors as co-investors.
The residential portfolios comprise approximately 800 residential units in the Helsinki Metropolitan Area (HMA) and Tampere, with some 70% of the value concentrated in the HMA. The assets are of high standards, with the majority being newly built properties.
Tuomas Kokkila, investment manager at Slättö, commented: ‘These acquisitions substantially increase the size of our portfolio in Finland, and we are pleased to do them in partnership with existing and new institutional investors. We have followed closely the Finnish residential market for some time and believe that urbanization and limited new supply create improving underlying fundamentals for residential investments.’
With these transactions, Slättö’s investments in Finland reach €300 mln.
Slättö will co-operate with Premico in the execution of the business plan for one of the residential portfolios. Slättö was advised by Avance, Roschier, Naava Partners, Nordanö and PwC in these transactions.
