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Catella Residential enters Finland with pan-European fund

Catella Wohnen Europa, the pan-European residential fund advised by Catella Residential Investment Management (CRIM), has entered its 10th market in Europe with the acquisition of a portfolio of over 300 apartments across Finland for nearly €80 million. This acquisition will bring the fund close to the €800 million mark Catella Asset Management Oy acted as a local partner for the buyer.

The portfolio, comprising six residential properties and a lettable area of 18,500 sqm, was purchased from Finnish insurance group Fennia and its subsdiary Fennia Life. Built in 2011, the high-quality, modern properties are mainly located in the Helsinki Metropolitan Area, with one in Tampere and one in Jyväskylä. The assets are virtually fully let.

Benjamin Rüther, Investment Advisor at Catella Residential Investment Management, said: “Finland is a very interesting and professional market as many participants are institutional investors and portfolio sales are common. Demand for apartments is increasing due to favourable demographics in the country’s key cities which makes Finland an attractive market to have a presence. We now rank as one of the pioneers among the select group of foreign investors active in Finland’s residential market.”

Catella Residential enters Finland with pan-European fund.
Jussi Rouhento, Managing Director at Catella Asset Managment Finland, said: “Residential has become the biggest real estate investment class for institutional investors in Finland in the past decade. Foreign investors’ share of the total volume of housing portfolios soared to 58% in 2018 and that strong investment activity has continued so far this year. This portfolio is located in the Helsinki region and two regional hubs that are also major university cities. All three cities have positive population forecasts and Tampere and Jyväskylä are regional centres in their own right. This was our first local deal in Finland together with Catella’s European residential team and a major step for Catella Asset Management Finland into the residential sector.”

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