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Deal news: Acquisition of prime residential portfolio in Helsinki, Finland

Deal news: Acquisition of prime residential portfolio in Helsinki, Finland

News
23 April 2018

Acquisition of prime residential portfolio in Helsinki, Finland

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”) has completed the acquisition, on behalf of a German special fund1 focused on residential investments, of three core residential assets located in Helsinki, Finland. Totaling over 5,600 sqm, the assets were acquired from Local Tapiola Real Estate Ltd’s managed fund Tapiola KR IV Ky.

Built in 2011-2015, the prime fully-occupied portfolio comprises 89 apartments, with an average size of 63 sqm, of which 60% are one or two-bedroom units.

This acquisition follows the entry of AXA IM - Real Assets into the Finnish residential real estate market in 2017, where it now manages a c. €200 million2 residential portfolio comprising 1,200 units.

 

1 The fund is managed by AXA IM Deutschland and is reserved for institutional investors only
2 AXA IM – Real Assets data (unaudited)

This document is aimed solely at the media and is for information purposes only. The opinions expressed here are the views of the author and do not constitute investment advice. This is not a recommendation to purchase, sell or subscribe to financial instruments, an offer to sell investment funds or an offer of financial services. This press release is as dated. They do not necessarily represent the views of any company within the AXA Investment Managers Group and may be subject to change without notice. This does not constitute a Financial Promotion as defined by applicable laws and regulation and is for information purposes only.  No financial decisions should be made on the basis of the information provided. Information regarding the background and personnel of AXA IM - Real Assets is provided for information purposes only.