Kojamo Plc Press Release 12 July 2019 at 3.10 p.m. (EEST)
Kojamo agrees the sale of 478 apartments
Kojamo Group’s companies have signed on 12 July 2019 an agreement for the sale of 478 rental apartments in 12 locations across Finland to Olo Asunnot. The transaction will be completed in August and is subject to customary closing conditions.
The apartments included in the transaction are located in Hämeenlinna, Järvenpää, Kajaani, Kirkkonummi Lahti, Lappeenranta, Mikkeli, Porvoo and Rovaniemi. The rental agreements will transfer to the buyer as part of the transaction.
The sale is part of Kojamo’s investment strategy focused on Finland’s seven largest growth centres. The target assets for the transaction are located mainly outside the growth centres identified in the strategy.
The capital gain from the transaction is approximately EUR 0.4 million.
Kojamo Plc, Ville Raitio, Chief Investment Officer, tel. +020 508 3012
Kojamo is Finland’s largest private residential real estate company and a frontrunner in the rental housing business. Our mission is to create better urban housing. We operate in Finland’s most significant growth centres and our Lumo brand provides rental housing and new services for urban housing with 50 years of experience. We actively develop the value and number of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit kojamo.fi/en/