Nuveen, one of the largest investment managers globally, with $147 billion of assets under management, has announced yesterday its entry into the Finnish residential sector by agreeing to acquire a 141-apartment single family home portfolio. Trevian Asset Management acted as an advisor in the project to Nuveen on behalf of Nuveen’s pan-European diversified Value Add strategy.
Yesterday’s announcement concerns the acquisition of a single-family home portfolio situated in the Helsinki Metropolitan Area, which includes one finished asset and three other assets that are to be built. Nuveen will partner with Toivo Group Oyj, the leading developer of single-family rental housing in Helsinki, to deliver affordable and energy-efficient homes.
The investment strategy focuses on meeting the growing demand for high-quality rental housing in the Helsinki Metropolitan Area by investing in modern, affordable and energy efficient homes. These apartments are in demand due to the need for apartments that provide a blend of private space and sense of community, making them especially appealing to families.
The assets will be built with a commitment to meeting high sustainability standards, including targeting an EPC rating of “A” certification and using timber frames. The assets will be situated close to nature yet provide a strong access to the daily services and Helsinki city center.
Image taken from Trevian website
Trevian will continue as an advisor and asset manager for the portfolio, leveraging its local market expertise and knowledge.
Kim Särs, CIO, Trevian: “We are thrilled with the outcome of our cooperation with Nuveen – it has been a pleasure to support them in their entry to the Finnish residential market. Single-family homes represent a highly appealing yet underserved segment within Finland’s real estate landscape, and the market fundamentals offer robust support for concentrating on this niche. We’re genuinely excited about the opportunities this partnership brings for both our companies.”
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