RIM and Premico invest in a joint venture together with a real estate fund advised by MSREI into a portfolio of 306 apartments in 4 residential properties in Helsinki Metropolitan Area. The assets were acquired on August 31st, 2020.
“These two acquisitions provide our investors with exposure to assets in a market with positive demographic and economic trends. The assets complement our existing Finnish residential portfolio and our strategy to add value through asset management initiatives and investment into the assets, including efforts to improve energy efficiency.”, commented Ulf Pleschiutschnig, Managing Director & Co-Head Europe Investments of MSREI.
The joint venture intends to work actively with respect to the portfolio, with renovations and upgrades of the assets. RIM and Premico will jointly run the asset management of the portfolio.
David Renger, CEO of Renger Investment Management: ”RIM and Premico have jointly developed asset strategies for Finnish residential investment opportunities and we have since 2018 invested in residential assets together with MSREI. This add-on acquisition confirms our strategies, strengthens our joint venture and we currently hold a portfolio of 1,900 apartments in Finland.”
“We are extremely pleased to make two additional housing investments together with MSREI and we look forward to actively managing and repositioning the portfolio while introducing a high-quality tenant experience. The partnership with MSREI has been successful and we continue to look for further acquisitions with them in the Finnish market with similar value characteristics.”, says Samuel Tuomola, partner, and CIO of Premico.