Kojamo agrees to acquire 942 apartments
HELSINKI, June 23, 2022 /PRNewswire/ — Kojamo and a fund managed by NREP have entered into an agreement under which Kojamo’s subsidiary Lumo Kodit Oy will acquire 942 rental apartments in Finnish growth centres. The transaction is contingent upon the normal conditions for a property transaction. The parties aim to finalise the transaction during June 2022.
The transaction concerns 13 high-quality properties completed between 2017 and 2021. Of the apartments, 461 are located in Helsinki, Espoo and Vantaa, 191 in Turku, and 290 in Jyväskylä. The parties have agreed that the transaction price will not be disclosed. If completed, the transaction will increase Kojamo’s total revenue for 2022 by approximately EUR 4 million. The tenancy agreements for the properties will remain in effect unchanged.
The investment supports Kojamo’s strategic growth in the capital region as well as in Turku and Jyväskylä. Kojamo’s strategy is to invest in apartments in Finland’s growth centres, where the demand for rental apartments is on the rise due to urbanisation and the increasing popularity of rental housing.
“The properties to be acquired are an excellent fit with our strategy, and they strengthen Kojamo’s apartment offering in the areas in question. They are located in growing urban locations, close to good transport links, diverse services and opportunities for outdoor recreation. We welcome our new customers to enjoy our range of Lumo services,” says Chief Investment Officer Ville Raitio.
For more information, please contact: Ville Raitio, Kojamo plc, Chief Investment Officer, tel. +358 20 508 3012
Distribution: Nasdaq Helsinki, key media
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