22 December 2020, Finland | Corporate Finance | News
Catella acted as Ålandsbanken Residential Property’s and YIT’s advisor in the sale of 11 new residential properties in the Helsinki region, Turku, Tampere and Hämeenlinna. The portfolio comprises in total 630 apartments with a lettable area of approximately 28,000 square metres. The purchase price of the portfolio is EUR 148.5 million. The buyer is M&G European Property Fund. The transaction is one of the largest residential property deals in 2020 in Finland.
YIT’s and Ålandsbanken’s joint venture ÅB Kodit Ky is selling its 10 residential properties to M&G European Property Fund. In connection with the transaction, Ålandsbanken Residential Property Fund sold a residential property from Espoo. The 11 new-built properties are located at excellent locations in Southern Finland, mainly in Greater Helsinki, close to good connections and comprehensive daily services. The apartments are well-equipped and modern. The construction of five properties is already completed and the remaining six properties will be completed in 2021.
The majority of the apartments are studio and one-bedroom apartments varying in size from 25 to 55 square metres. The properties include also a number of two-bedroom apartments as well as larger family apartments. The total lettable area of the portfolio is approximately 28,000 square metres.
Catella acted as Ålandsbanken’s and YIT’s exclusive financial advisor in the sales process.
For more information, contact:
Antti Louko
Managing Director
tel. +358 50 5277 392
antti.louko@catella.fi
Jan Malms
Director
tel. +358 50 5897 781
jan.malms@catella.fi