The Catella European Residential III Fund (CER III) has, in cooperation with Catella Asset Management Oy, acquired a portfolio of 243 new-build apartments, six commercial units and 122 parking spaces in the Finnish cities of Helsinki, Tampere, Turku and Vantaa, for approximately €50m from Oivat Kaupunkikodit Ky, a fund managed by eQ Asset Management Ltd.
Tapio Nurkkala, Investment Director, Catella Asset Management Oy said: "Robust underlying market fundamentals continue to support the future growth of residential investments in Finland over the long term. The ongoing urbanization trend is particularly visible in the Golden Triangle cities, where the portfolio’s properties are located, and which are also the homes of the country’s four largest universities. Finland’s share of single-person households is the highest in Europe, standing at approximately 47%, compared with an average of around 34% in the EU as a whole, a demographic which closely overlays the composition of the size of the units we have invested in. The CER III Fund’s latest investment exemplifies what a modern, high-performing, residential portfolio with high sustainability standards looks like.”
All the portfolio assets were completed between 2021 and 2022 and are in good technical condition with an average B energy efficiency label conforming to EU Sustainable Finance Disclosure Regulation (SFDR) Article 9 standards. Catella’s ESG energy transition roadmap is to invest in improving the assets to energy efficient label A. The CER III fund was Europe’s first cross-border residential real estate fund to qualify as a top-ranked SFDR Article 9 ‘dark green’ investment fund.
Image provided by Bellier Financial.
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