Bonava is selling a rental project in Tampere, Finland, to the investor NREP Nordic Strategies Fund III. The project comprises 103 rental apartments in the new Lielahti residential area. The transaction is expected to be recognised in profit in the fourth quarter of 2020.
"This transaction allows us to continue our expansion in Tampere and thereby strengthen our position in the region. The divestment and project are aligned with our strategy to develop more rental apartments in Finland, says Joachim Hallengren," President and CEO of Bonava.
When completed, the Lielahti neighbourhood will include just over 500 housing units. The residential area is situated close to supermarkets, shops and preschools.