Deal news: Acquisition of prime residential portfolio in Helsinki, Finland
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.
2 AXA IM – Real Assets data (unaudited)
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