11 September 2024, Finland | Corporate Finance, Investment Management | News
The Finnish real estate investment market remained subdued and the H1/24 transaction volume totaled ca. EUR 1.2 billion. Last year’s H1 volume of EUR 1.4 billion was reached by the end of July. Foreign investors accounted for 51 percent of the acquisitions, indicating that foreign investors have maintained their interest in the Finnish real estate market.
Residential was once again the most transacted asset type with a volume of over EUR 500 million, and now accounts for more than one third of the total volume. Industrial and logistics properties were second with a volume of ca. EUR 420 million. Offices appeared to be a very illiquid asset type, with office volume amounting to just EUR 80 million. So far this year, there has been only one significant office transaction, when VVT purchased the office building Ratina in central Tampere from Sponda.
The largest acquisition in H1/24 was the residential portfolios purchased by Slättö together with domestic institutions, covering a total of ca. 800 apartments in the Helsinki Metropolitan Area (HMA) and Tampere. The total value of the deal was EUR 130 million, completed in two parts. Additionally, Aktiivitilat’s first fund focused on industrial properties was sold to Blackstone for EUR 135 million during Q3/24.
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