• Aberdeen Standard fund buys over 800 Helsinki flats

    PUBLICERAD 2018-10-05 AV sverrirthor
    UPPDATERAD: 2018-10-05 22:52


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    Aberdeen Standard Investments, on behalf of its fund Pan-European Residential Property Fund, has acquired a portfolio of over 800 apartments in Helsinki. It is the funds first investment in Finland, its second in the Nordics, and moreover, its largest single investment to date. Since inception in March 2018, the fund has invested 450 million EUR in five residential schemes, incorporating 1,430 apartments in four different European capitals.

    In total, the portfolio in acquired in the Finnish capital consists of 824 residential units, located close to the city centre with good access to transportation. In a statement, the company writes that the apartments hold a high standard, generally incorporating a sauna and a glazed balcony.

    “With a current total occupancy rate of 96%, the apartments span 26 buildings covering a total of 45,678 sq.m.”, the company writes.

    Fund manager Marc Pamin comments that Helsinki is a prime example of the constant high demand for good quality housing in key cities where people want to live and work.

    “We’ve already established a considerable momentum for the Fund with other recent acquisitions in Copenhagen, Paris and Vienna – all of which are very strong private rental markets. We will maintain this in the right cities; continue searching for the best properties for occupiers; and aim to provide stable returns for our investors.”

    In addition to making the large investment in Helsinki, the fund has raised further 42,7 million EUR from investors in Ireland, South Korea and the Netherlands.

    Sverrir Thór

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