Kojamo Group’s companies have signed an agreement, whereby they will sell in total 1,594 rental apartments in 15 locations to a real estate fund managed by Morgan Stanley Real Estate Investing.
The apartments to be sold are located in Hämeenlinna, Jyväskylä, Kotka, Kouvola, Kuopio, Lahti, Lappeenranta, Mikkeli, Pori, Porvoo, Riihimäki, Rovaniemi, Tampere, Turku and Vantaa.
The purchase is conditional on the prerequisites for an ordinary real estate transaction. The parties’ objective is to finalise the transaction during the second quarter of 2018.
The debt-free purchase price of the apartment stock to be sold is EUR 97 million. The purchase price exceeds the fair value of the properties as stated in Kojamo’s n Financial Statements December 31, 2017 by approximately EUR 5 million.
For more information:
Jani Nieminen, CEO, tel. +358 20 508 3201
Erik Hjelt, CFO, tel. +358 20 508 3225
Kojamo is the frontrunner in rental housing and real estate investments. It has undergone major renewals in recent years. The renewed Kojamo is able to provide better urban housing in a rapidly changing world. Kojamo is transforming Finnish society together with its customers, other companies and operators, and cities.