YIT and Icecapital Housing Fund IV signed a pre-agreement on the construction of rental apartments in the capital region in Finland. The pre-agreement covers approximately 200 apartments. The total value of the agreement is approximately EUR 35 million. The projects are estimated to be started at the end of 2017 and to be completed in the beginning of 2019. The projects will be booked in the order backlog once the individual deals are closed.
In addition, YIT signed an agreement on the sale of a total of approximately 60 apartments to Icecapital Asunto 2015 property fund. The total value of the agreement is over EUR 10 million. The apartments, which will come for rental use, are located in the capital region or in other Finnish growth centres and are from projects that are either under construction or completed. The sale of the apartments is recorded in the order backlog in the first quarter.
YIT Sells for EUR 10M and Builds for EUR 35M
Finland — YIT sells 60 apartments to Icecapital and has signed a pre-agreement with the same company to construct approximately 200 new apartments.