JLL advises eQ on the sale of a residential portfolio
A fund managed by eQ Asset management Ltd, Oivat Kaupunkikodit Ky has sold four residential properties to Sirius Capital Partners’ newly established residential vehicle. The sold properties with a high sustainability profile are located in Helsinki, Vantaa, Tampere and Turku in excellent locations close to services and public transport connections.
The value of the portfolio is approximately 45 million euros. The portfolio consists of 251 apartments with a total lettable area of approximately 10,000 sqm, completed between 2021 and 2023, offering modern homes for 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 criteria. Thanks to all the advisers and especially to the new owner Sirius for a good and smooth transaction process.”
Jonas Ahlblad, Partner and CIO, Sirius Capital Partners:” This is a great first acquisition for our newly established residential vehicle. Our objective is to build up a sizeable portfolio of standing, but newly built residential buildings with strong ESG features in great locations. This portfolio fits the strategy perfectly.”
Pauliina Rantsi, Deputy Head of Capital Markets, JLL Finland:” We are very pleased to have advised eQ successfully in this transaction. The strong long-term market fundamentals in Finland provide a solid foundation for the future growth of residential investments. The evident investor interest in this modern, ESG-proofed portfolio indicates a stabilizing pricing environment for core residential assets. This transaction further strengthens our track record, and we are proud that our deep market knowledge has enabled us to achieve excellent outcome for our client.”
JLL acted as commercial advisor to Oivat Kaupunkikodit Ky and Castrén & Snellman 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 106,000 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.