Helsinki-listed developer SRV has sold a residential portfolio of three assets to a German investor for €82 mln.
Comprising 257 new-build apartments, the assets are located in the Helsinki region with excellent connectivity and transportation options.
The properties are situated in Etelä-Haaga in Helsinki, Saunalahti in Espoo, and Kerava city centre representing a total of almost 11,500 m2 of lettable area.
The construction of the assets will commence in the second half of 2021 with estimated completions by the end of 2023. The assets will be built with high technical and environmental standards, and each asset seeks to achieve an EPC rating of A.
SRV Construction, which acted as the seller in the transaction, is part of SRV Group which was established in 1987.
JLL acted as SRV’s sole commercial advisor and Hannes Snellman acted as the legal advisor.
Tuomas Kokkila, head of transactions, SRV, said: 'Thank you to the buyer and JLL teams for a professional and smooth transaction process.
'The transaction showcases well SRV’s current and future residential development pipeline; assets across desired submarkets where both tenant and investor demand are robust, and construction with aim to achieve the highest environmental standards.'
Tero Uusitalo, head of capital markets, JLL Finland, added: 'We are very proud and pleased to have the honour to act as SRV’s commercial advisor in the sale of this high-quality residential portfolio.
'The transaction is a great example of strong international investor demand for centrally located and high-quality residential assets.
'The transaction also demonstrates the growing demand for forward funding structures which reflects the investors’ growing risk appetite and the lack of high-quality residential investment opportunities.'