Avance advises Sirius Capital Partners and its newly established affiliate in the agreement to acquire a portfolio of 18 build-to-rent residential buildings from YIT, the largest construction company in Finland. The portfolio comprises more than 750 apartments for a total investment value of approx. EUR 175 million.
The assets are acquired pre-construction at a pre-determined fixed price and will be completed between 2022 and 2024. Sirius and YIT have established a joint venture for the acquisition of the portfolio, whereby YIT will remain with a 20% ownership.