Avance advises Storebrand Real Estate in the acquisition of a residential portfolio in the Helsinki Metropolitan Area, comprising 22 residential buildings across 13 freehold assets, totalling 999 apartments and more than 54,000 sqm of leasable area. The acquisition is made through Storebrand’s core plus fund, Storebrand Nordic Real Estate Fund II (SNRE II). The seller is Ilmarinen, one of Finland’s largest private earnings-related pension insurance companies.
This acquisition further strengthens SNRE II’s Nordic residential platform. With the addition of 999 apartments in Finland, SNRE II has through its first four acquisitions now expanded its portfolio to nearly 1,700 apartments across Finland and Denmark.