Kojamo Announces Sale of 44 Residential Properties for EUR 242M

Kojamo Enters Agreement to Sell Residential Properties
Kojamo plc has taken a significant step by agreeing to sell 44 rental housing properties to funds managed by Apollo and Avant Capital Partners for a total amount of EUR 242 million. This decision marks a strategic move within Kojamo's investment strategy, demonstrating its commitment to evolving its portfolio.
Details of the Transaction
This sale includes approximately 1,944 apartments located across various municipalities. The properties involved in the transaction span different regions, highlighting the diversity of Kojamo's holdings. Many of these properties date from the 1970s to the 2000s, indicating an established presence in the residential market.
Geographical Scope of the Sale
The residential properties are situated in several Finnish cities, including Jyväskylä, Lahti, Kuopio, Hämeenlinna, Helsinki, Tampere, Turku, and Espoo. By parting with these assets, Kojamo is not only optimizing its portfolio but also concentrating its investments in urban areas, which aligns with modern housing trends.
Timeline and Conditions
The transaction is contingent upon customary closing conditions typical in real estate deals. Both parties aim to finalize the sale during the summer of the upcoming year, indicating a proactive approach to execution.
Strategic Rationale Behind the Sale
According to Ville Raitio, Executive Vice President of Kojamo, the sale represents a key milestone for the company. Nearly 80 percent of the sold properties are outside the capital region, reinforcing Kojamo's ongoing strategy to focus on investment opportunities in larger cities.
Financial Implications
The properties involved in the sale are expected to generate approximately EUR 21 million in annual revenue. Once the sale is completed, Kojamo plans to provide updates on how this transaction impacts its financial outlook for the fiscal year.
About Kojamo
Kojamo stands out as Finland's largest private residential real estate company and a major player in the country's investment landscape. The company's mission emphasizes creating improved urban housing solutions. Through its Lumo housing brand, Kojamo caters to urban residents looking for environmentally friendly living options complemented by quality services.
Committed to enhancing property values, Kojamo continues to evolve its portfolio by developing new properties and improving existing ones. The company seeks to be a leader in the property market and aims to remain the top choice for its customers.
Frequently Asked Questions
What is the total sale price for the properties?
The total sale price for the 44 residential properties is EUR 242 million.
Who are the buyers of the properties?
The properties are being sold to funds managed by Apollo and Avant Capital Partners.
How many apartments are included in the sale?
A total of approximately 1,944 apartments are included in this transaction.
When will the transaction be finalized?
The transaction is expected to be finalized during the summer of the upcoming year.
What is Kojamo's strategy moving forward?
Kojamo's strategy focuses on investing in larger cities and optimizing its property portfolio by selling non-strategic assets.
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