Barings Buys Housing in Finland

Finland Finland Barings Real Estate Advisers announces that it has acquired a EUR 43M portfolio of seven residential properties in Finland from Varma. Following this acquisition, Barings’ first in the residential sector in Europe, the firm now manages more than EUR 844M of real estate assets in the Nordics.


Share via e-mail

The portfolio comprises seven properties located in the key Finnish growth cities of Espoo, Tampere, Turku and Lahti and provides a total of 18,770 square meters of core Grade A rental accommodation across 301 apartments. The portfolio is nearly fully let and offers an opportunity for stable income and long term occupancy, with the potential for further upside through a targeted capex programme. Merilampi acted as Barings’ legal advisor, Newsec and Borenius advised Varma in the transaction.

Göran Bengtsson, Managing Director and Head of the Nordics at Barings Real Estate Advisers, said:
“The demand for rental accommodation in Finland remains strong, both with prospective tenants and investors and with a limited pipeline of new developments alongside an ongoing trend of urbanization, we expect this to be further strengthened over the coming years. With 46% of net rental income coming from the Helsinki metropolitan area, this portfolio provides significant and good quality exposure to the country’s largest growth cities and is well positioned to benefit from this demand over both the short and longer term.”
Gunther Deutsch, Managing Director and Head of Investment Transactions Europe at Barings Real Estate Advisers said:
“The acquisition of this portfolio of core residential assets builds on our portfolio of assets in Finland, including the recently acquired shopping centre in Espoo and office development in Helsinki as a part of our value-add strategy, and further demonstrates the wide range of strategies we operate as a platform. It is a strong endorsement of the expertise of our local and experienced team in Helsinki, and as our first residential transaction within Europe, it further adds to our longstanding Nordic track record. We continue to focus on Sweden and Finland within the Nordic markets and are looking to identify investment opportunities across a range of sectors and strategies.”

Barings Real Estate Advisers is part of Barings LLC, one of the world’s largest diversified real estate investment managers. 

Maria Olsson Äärlaht

Bonava Sells in Espoo

Finland Finland Bonava is selling 119 rental apartments in Perrkka, Espoo, to the investor OP-Rental Yield.

YIT to Construct Apartment Building Project

Finland Finland YIT starts the construction of an apartment building project in Vermonniitty, Espoo, in Finland.

Sato to Construct New Apartments in Vantaa

Finland Finland Sato will construct new rental apartments in the Martinlaakso district of Vantaa. Two buildings located on a Sato-owned site that were constructed in the 1970’s will be demolished and replaced with three times as many new homes.

Aalto University Divests Property

Finland Finland Aalto University divests the Chydenia property in Töölö, Helsinki, but leases the premises until July 2019.

Lehto Creates New Logistics Centre for DSV

Finland Finland Lehto has signed an agreement with the global transport and logistics company DSV for the construction of a logistics centre in the Päiväkumpu area of Vantaa, near the Helsinki-Vantaa airport.

Citycon divests in Finland for EUR 167M

Finland Finland Citycon and Cerberus announce that they have signed an agreement whereby Citycon will divest its shopping centres Espoontori, Tikkuri, Myllypuron Ostari, Martinlaakson Ostari and Jyväskylän Forum to an affiliate of Cerberus for a total value of approximately EUR 167M.

Bonava Sells Rental Apartments in Espoo

Finland Finland Bonava is selling a rental project in Espoo, Finland, to the investor Ice Capital Housing Fund IV Ky. The project comprises 78 rental apartments in a single property.

YIT and Lemminkäinen Merger Approved

Finland Finland The FIN-FSA has approved YIT's and Lemminkäinen's merger prospectus and granted exemption from the obligation to publish listing prospectus.

Finnish Lehto Expands to Sweden

Finland Finland Lehto Group Plc has signed an agreement to establish a new subsidiary in Sweden. The name of the company will be Lehto Sverige.

Niam Recruits in Finland

Finland Finland Niam strengthens their Helsinki office with a Senior Director.