“We believe that the Helsinki area shows long-term potential benefitting from positive demographic and urbanisation trends. We are pleased to have added this asset to our residential portfolio,” says Ulf Pleschiutschnig, Managing Director at Morgan Stanley & Co-Head of European Real Estate Investments.

“The sale was part of our normal portfolio management and as consequence of a successful zoning process we were able to add further building rights on this plot of which the new owners can take benefit of,” says Ilkka Tomperi, Investment Director and Head of Real Estate at Varma.

“We are delighted Premico has been able to advise MSREI in making an additional housing investment in Finland. We look forward to actively managing the existing asset while we construct ca. 130 new high-quality units to complete the portfolio. Since 2017, our partnership with MSREI has been successful and we continue to seek further acquisitions with them in the Finnish market,” says Samuel Tuomola, partner, and CIO of Premico.