OP-Rental Yield, a fund managed by OP Fund Management Company Ltd, has agreed to sell a residential portfolio consisting of 10 properties to a fund managed by Slättö Förvaltning AB.
News release
01 July 2024
JLL advised OP-Rental Yield Fund on the sale of ten residential assets
Your browser doesn't support speech synthesis.
Listen to article •
Read time: 1 sec
The properties encompass a total of ~26,000 square meters of lettable area, comprising 544 apartments.
Approximately 60% of the portfolio value is located in the Helsinki Metropolitan Area with the remaining along the new tram line in Tampere. Majority of the assets are newly built and have strong ESG-profile.
Antero Tenhunen, Portfolio manager, OP-Rental Yield: "A great culmination to a busy spring and early summer. The recently agreed-upon significant transaction demonstrates that newer, high-quality residential properties in prime locations are attractive investment opportunities regardless of market conditions. Thanks to JLL for their excellent project cordination."
Tuomas Kokkila, Investment manager, Slättö: "Thank you to all parties for a very professional and swift transaction process. We are very pleased to be able to increase our exposure in the residential sector regardless of short-term turbulence in the property market. In the Helsinki Metropolitan Area and Tampere, urbanization and limited new supply create strong underlying macro fundamentals for the investments going forward."
Pauliina Rantsi, Deputy Head of Capital Markets, JLL Finland: "We are very pleased to have successfully advised OP-Rental Yield in Finland's largest residential transaction of 2024. This transaction demonstrates the strength of the underlying fundamentals in the residential segment and the positive outlook for standing assets in established areas.”
This transaction marks JLL's fourth completed residential portfolio sale in Finland since December 2023, and I am extremely proud of our team's execution capacity and ability to navigate through current market conditions. We are delighted that our deep market knowledge has enabled us to achieve excellent outcomes for OP-Rental Yield."
JLL acted as commercial advisor to OP-Rental Yield and Krogerus as legal advisor.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.