CBRE acted as the Seller’s exclusive commercial advisor
A fund managed by PATRIZIA Immobilien AG has sold a residential portfolio to SATO.
The properties have been managed from the local PATRIZIA office in Helsinki since the establishment of the subsidiary PATRIZIA Finland Oy in 2014. The portfolio consists of three properties with a total of 113 apartments. Two of the assets are located in the Helsinki Metropolitan Area and one in Tampere, the second most populous city in Finland. The sale of the portfolio is part of PATRIZIA’s strategy to be an active real estate market player within the Finnish investment management and asset management business.
Rikke Lykke, Managing Director at PATRIZIA Nordic Region, comments: “Our investors find the Finnish real estate market really interesting from a demographical, macro economic and political perspective. When we choose to sell these three properties it is part of our key strategy; we always work actively with our assets under management to the benefit of our investors. This of course includes not only finding the right investments but also finding the right exit opportunities.”
Essi Sten, Business Director at PATRIZIA Finland Oy, continues: “We are happy to sell this portfolio to such a respected and recognised real estate professional like SATO and we look forward to seizing new investment opportunities in the Finnish market and to expanding our local business.”
Joni Koski, Managing Director at CBRE Finland, adds: “CBRE remains as the most active advisor in residential portfolio transactions in Finland especially with the international counterparties and this time we were happy to advise such a significant player as Patrizia on the sale side. Transaction demonstrates strong domestic demand for residential investments in the growth centres.“
CBRE Finland advised the seller with Castrén & Snellman Attorneys Ltd providing legal advice.
About PATRIZIA Immobilien AG PATRIZIA Immobilien AG has been active as an investment manager on the real estate market in 15 European countries for more than 30 years. PATRIZIA’s range includes the acquisition, management, value increase and sale of residential and commercial real estate over own licensed investment platforms. As one of the leading real estate investment companies in Europe, PATRIZIA operates as a respected business partner of large institutional clients and retail clients in all major European countries. Currently, the Company manages real estate assets worth around EUR 17 billion, primarily as a co-investor and portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. For further information, please visit: www.patrizia.ag
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