The portfolio consists of 17 assets and some 54,000 sqm of lettable area, located in the Helsinki Metropolitan area and other major cities and growth centers in Finland.
“This investment is a great new addition for Areim’s existing business, entrance to an asset class diversifying our real estate portfolio and access to a defensive sector providing strong cash flows throughout market cycles. Overall the investment is a great new addition for Fund IV. With the acquisition Areim gains directly a substantial presence in the residential sector in Finland and is well positioned to further grow its residential portfolio going forward,“ commented Therese Rattik, CEO of Areim.
Following this transaction Areim’s portfolio in Finland grows to some thirty direct investments in addition to Areim’s position in Sponda.
Cushman & Wakefield and Avance Attorneys advised Areim in the transaction. JLL was Ilmarinen's advisor in the transaction.