VVO Kodit Oy, which is part of VVO Group, acquired ICECAPITAL Housing Fund II. The fund owns 2,274 rental apartments.
The apartments covered by the transaction are market-based, and most of them are located in Helsinki, Espoo, Vantaa and Tampere. The transaction also covers apartments in Jyväskylä, Kerava, Kuopio, Lahti, Mäntsälä, Nurmijärvi, Oulu and Turku.
– The fund owns new apartments that are located on the best locations in each city. The acquired fund is an excellent match to the group’s existing housing stock. This transaction contributes to the implementation of our strategic growth targets. The demand for rental apartments that are located close to good public transport connections and services is growing constantly. We aim to continue to invest in rental housing in Finnish growth centres, particularly in the Helsinki Metropolitan Area, says VVO Group CEO Jani Nieminen.
– We are happy that the company that purchased our apartments in the middle of our term will keep them in rental use, says Ari Lahti, CEO of ICECAPITAL.
The parties have agreed not to disclose the total purchase price of the fund.
More information:
Jani Nieminen, CEO of VVO Group plc, tel. +358 (0)50 373 4847, jani.nieminen(at)vvo.fi
Ari Lahti, CEO of ICECAPITAL Pankkiiriliike Oy, tel. +358 (0)400 601 579, ari.lahti(at)icecapital.fi
Under the Lumo and VVO brands, VVO Group Plc offers versatile and effortless rental solutions coupled with an extensive range of housing services for different life situations. VVO Group aims to invest heavily in increasing housing supply in the next three years by developing new properties and buying existing properties.