JLL acted as a commercial advisor on the sale of a residential portfolio

Oivat Kaupunkikodit Ky, a residential fund managed by eQ Asset Management Ltd, has recently sold four residential properties to Catella European Residential III Fund (CER III), a fund managed by Catella Residential Investment Management GmbH (CRIM). These article 9 compliant properties are strategically positioned in prime areas, offering convenient access to vital amenities and excellent public transportation networks in Helsinki, Vantaa, Tampere, and Turku

The portfolio value is approximately 50 million euros. Buildings have been recently completed between 2021 and 2022, offer a combined lettable area of approximately 11,000 sqm, offering comfortable living for the tenants.

Markus Pitkänen, Investment Director, eQ Asset Management Ltd:” The transaction is a good indication of the strong interest in the market for modern residential properties with high ESG profile. Thanks to all advisers for a good transaction process and congratulations to the new owner Catella for the deal.”                                           

Tapio Nurkkala, Investment Director at Catella Asset Management: ”With this latest transaction, we have now introduced three Catella managed funds to the Finnish residential market and are extremely pleased to further strengthen our position as a significant owner of residential units in Finland. In addition, we would like to thank eQ Asset Management Ltd for the professional and straightforward transaction process.”    

Michael Eirich, Head of Transactions at CRIM, added: “This latest investment by CER III in Finland represents an excellent opportunity to further diversify the Fund’s portfolio. The overall sustainability profile of the fund will also be boosted as we invest in upgrading the energy efficiency of the portfolio. CER III fund is Europe’s first cross-border residential real estate fund that qualifies as a top-ranked Article 9 ‘dark green’ investment fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR).”

Pauliina Rantsi, Deputy Head of Capital Markets, JLL Finland: ” We are pleased to have advised eQ successfully in this transaction. This transaction demonstrates that both the future outlook of the Finnish residential market and modern, high-quality, sustainable residential properties are of interest to international investors as well. It is delightful to strengthen even further our track record in the residential segment, and we are glad that our deep market knowledge has enabled us to achieve excellent outcomes for our client.”

JLL acted as commercial advisor to Oivat Kaupunkikodit Ky and Castrén & Snellman as legal advisor.