The properties are built between 2011 and 1994 and the portfolio is practically fully occupied. The properties in the portfolio are held as freehold, three in the Helsinki Metropolitan Area and one in Tampere. The greater Helsinki region and Tampere region together account for almost two million inhabitants securing strong demand for rental apartments.
“We are very pleased that such a significant international investor is interested in the Finnish residential market,” says Vesa Eskoli, Real Estate Investment Director at Local Tapiola Real Estate Asset Management Ltd.
The purchase price is EUR 22M.
JLL advised the seller Local Tapiola in the transaction.
AXA Acquires Four Residential Properties from Local Tapiola
Finland — Local Tapiola General Mutual Insurance Company has sold a portfolio of four residential properties with a total of 119 apartments and a lettable area of 6,648 sq m to AXA IM.