AXA IM - Real Assets has completed the acquisition, on behalf of its clients, of a residential portfolio in Finland, which comprises three core assets in Helsinki and one in Tampere, from LocalTapiola General Mutual Insurance Company, for €22m.
This acquisition, made on behalf of a German special fund focused on residential investments, marks AXA IM - Real Assets’ entry into the Finnish residential real estate market. The German special fund, with gross fund volume of approx. €375m, is predominantly invested in Germany and the Netherlands.
Built between 1994 and 2011, the almost fully let portfolio totals 6,648 m². It is comprised of 119 apartments, with an average size of 56 m², of which 64% are one or two-bedroom apartments.
