A newly-established affiliate of Sirius Capital Partners has signed an agreement to acquire a portfolio of 18 build-to-rent residential buildings, comprising more than 750 apartments in Finland for a total investment value of €175 mln.
The seller of the portfolio is YIT, the largest construction company in Finland.
The assets are acquired pre-construction at a pre-determined fixed price and will be completed between 2022 and 2024.
Sirius and YIT have established a joint venture for the acquisition of the portfolio, whereby YIT will remain with a 20% ownership.
‘We are very excited about this acquisition, which brings us one step closer to our objective of creating a sizeable portfolio of high-quality, modern residential buildings predominantly located in the Helsinki region. Our pipeline also remains strong and we expect to announce the next add-on acquisitions in January,’ says Patrick Gylling, partner and CEO, Sirius Capital Partners.