To initiate the investment strategy, the joint venture has acquired a seed portfolio from Toivo Group, comprising five constructed assets, built in 2021-2022. This portfolio includes 117 apartments housed in modern terraced buildings, totalling 5,900 square meters of leasable area, located in Espoo and Turku.

Henrik Gerdin, Fund Manager, Niam, commented; “We have successfully invested in terraced housing sector in Denmark for several years and are thrilled to expand the strategy into Finland. This is a good example of Niam’s capabilities to work across the Nordic region and highlights the opportunities Niam can create with local presence.”

Antti Muilu, Country Manager Finland, Niam, commented; “Our primary goal is to provide rental homes that can truly meet the needs of modern housing standards in the Nordics. These terraced houses are designed to offer both privacy and community in a family-friendly setting. With our partner Kuuskodit we want to bring a new alternative to traditional rental housing market and are actively looking for opportunities to increase the portfolio.”

Managed by the newly established Kuuskodit Investment Management, the joint venture targets growth in the dynamic rental housing sector. With a focus on regions with a strong growth potential and accessibility to major cities, the venture aims to create family houses that are both functional and appealing. Niam and Kuuskodit are both committed to ensure that all rental developments are not only adapted for family living but also upholds high standards of energy efficiency, in alignment with ESG standards.

Markku Jääskeläinen, CEO, Kuuskodit Investment Management, added; “We would like to express our gratitude to Niam for their trust and we are fully committed to steering this joint venture. Our primary focus lies in energy efficiency and the utilization of sustainable building materials such as wood. This not only benefits the environment but also provides long-term value to our tenants.”

With several projects already underway and in the pipeline, the initiative is set to make a significant impact on the Finnish residential rental market, offering families inviting and sustainable homes. The joint venture is actively seeking partnerships and investments to further expand its impact and enhance its offerings in the single family rental market.