Sirius Capital Partner-managed real estate fund Sirius Fund IV has agreed to acquire seven residential assets, comprising in total 261 rental apartments, in Helsinki from Hartela for €55 million.
Sirius said the residential assets are acquired pre-construction at a pre-determined price.
The construction works in all assets will begin within the next few months and the assets will be completed in late 2023 and early 2024.
“We are very excited to have been able to conclude this transaction with Hartela. We would like to thank everyone involved for a very smooth transaction”, says Patrick Gylling, CEO of Sirius Capital Partners, the investment advisor of Sirius Fund IV.
Sirius Fund IV is a closed-ended real estate fund investing in build-to-rent residential assets in Finland, predominantly in the Helsinki region. The investors in the €200 million fund are international institutional investors, mainly from the US.