Fastilium has signed a deal concerning student housing in Finland, with Trimalchion Capital GmbH. The deal means the acquisition of a property portfolio with a total project value of MSEK 443 (€47 M) and the properties are purchased “turn-key” at a net operating income of 6 percent. The property projects are designed to construct two specially adjusted properties for student housing with approximately 500 beds. The property projects are located in Uleåborg and Helsinki with approximately 250 beds each.
Fastilium has established a strategic collaboration with Valeo, among other things meaning the useage of Valeos brand, as well as their management and experience within development, construction and management business. Valeo will manage the student housing activity in Finland and Great Britain. The founder of Valeo Group, Ted W Rollins, will also be a part of the Board of Directors at Fastilium going forth.
Fastilium aims towards applying for a listing of these shares on Nasdaq First North as soon as possible.
Fastilium Purchases in Finland
Finland — Swedish Fastilium Property Group acquires two student housing projects in Finland.