Fennia and Fennia Life sell a residential portfolio of over 300 apartments to a fund managed by Catella

Fennia and Fennia Life have sold a residential portfolio amounting a total of 334 apartments to the PanEuropean Fund “Catella Wohnen Europa”, advised by Catella Residential Investment Management (CRIM). Catella Asset Management Oy acted as a local partner for buyer.

The portfolio comprises a total of six residential properties and a lettable area of 18,535 sq m. The modern properties were built in 2011 and are virtually fully let. The assets are mainly locate in Helsinki region and one in Tampere and Jyväskylä, which are major Finnish university cities and considerable regional hubs in their provinces.

”We are pleased of the international and Finnish investors’ demand for Finnish residential rental apartments in Helsinki region and other university regions. By this transaction we are able to sell majority of our developed  rental apartments to a new investor in Finland” tells Harri Oravainen from Fennia Asset Management Ltd.

“This was the first deal together with our European residential team and a major step for Catella Asset Management Finland into the residential sector”, says Jussi Rouhento from Catella Asset Management Oy.

The purchase price was almost 80 million euros. JLL advised the Vendors Fennia and Fennia Life on the transaction.