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Ålandsbanken acquired SRV’s apartments for a new housing fund

SRV has sold 20 apartments to Ålandsbanken’s new housing fund. Apartments are part of SRV’s housing projects located in Jyväskylä, Pirkanmaa and Helsinki metropolitan area.

– In housing construction, we have focused strongly in Finnish growth centres where demand for apartments has remained solid despite the uncertainties in economic climate. Many areas face constant shortage of rental housing. For its own part, SRV has aspired to increase the supply and to build high quality rental homes in cooperation with our investor partners. It is great that Ålandsbanken is entering the market as a new nationwide player, says Antero Nuutinen, SRV’s Vice President in charge of domestic housing production.

At the beginning of the year Ålandsbanken launched a new fund aimed at private investors. The fund invests in rental housing around Finland.

“Our goal is to establish a close cooperation model with a few large construction companies and we are extremely happy to start this cooperation with SRV. Now acquired apartments are a great complement to the funds already acquired housing portfolio, says Stefan Wiklund, Director of Ålandsbanken’s Asset Management.

During the last few years SRV has rapidly emerged as one of the largest housing constructors. At the end of 2012 housing units under construction totaled 1,849 units.

The Ålandsbanken Asuntorahasto Erikoissijoitusrahasto fund is the first fund in Finland to invest in housing that is available to all investors. The fund started operations on December 31, 2012 and fund capital already totals EUR 62 million. To date the fund has already acquired 280 rental apartments for its portfolio. Fund units can be subscribed and redeemed four times a year. Realia Management Oy, a nationwide company, is responsible for leasing the residential units.

Further information

Antero Nuutinen, Vice President, SRV, tel. +358 201 455 302,

Antti Valkama, Investment Director, Ålandsbanken Asset Management Ab, tel. +358 204 293 732,

Stefan Wiklund, Director, Ålandsbanken Asset Management Ab, tel. +358 204 293 733,

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