YIT sells 87 apartments to Ålandsbanken’s housing fund for more than €20 million in Finland (FI)

YIT and Ålandsbanken’s housing fund have signed an agreement on the sale of 87 apartments in the Helsinki region and other growth centers in Finland. The value of the agreement is more than €20 million. This deal is a continuation of the agreement signed in February, which consisted of the sale of 221 apartments and amounted to €43 million.

“We are happy to have the chance to continue our collaboration with Ålandsbanken’s housing fund for which there is good demand. It is great that we can provide Ålandsbanken’s fund and its tenants with new apartments in locations where demand for rental housing exceeds supply. This deal gives us an opportunity to start up new projects and offer jobs in the construction industry throughout Finland,” says Matti Koskela, Senior Vice President at YIT.

Antti Valkama and Stefan Wiklund, Directors of the Ålandsbanken Asuntorahasto fund, state that the deal complements the existing rental housing portfolio of the fund excellently: “We are confident that there is good demand for these apartments and that the deal will create added value for the fund’s investors. In addition, we are happy to see that the operations of the fund stimulate the Finnish economy. Since the beginning of the year, the fund has utilized its funds to generate approximately 2,000 person-years of work in Finland.”

Source: YIT

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