Orava Residential REIT has signed a binding agreement to acquire 53 apartments from Skanska for a debt-free purchase price of €11.7M.

The acquired apartments are new and located in Tampere, Turku, Oulu, Vaasa, Rovaniemi, Kokkola and Savonlinna.

The apartments are not leased.

Orava Residential REIT has also signed a deal to acquire a total of 87 apartments in Kaarina and Raisio for a purchase price of €3.4 million. The deal was partly financed through a directed share issue allocated to Osuusasunnot Oy, in which Osuusasunnot Oy subscribed for 244,193 new shares, of which 128,461 shares do not entitle to dividends to be paid in 2015.