Castren & Snellman advised the OP-Vuokratuotto hedge fund, which is a part of the OP Group, in its purchase of a 1,200-residence real estate portfolio from Ilmarinen. This is one of the largest real estate portfolio transactions in Finland in the 21st century. The deal was closed on 2 June 2015.

The portfolio covers 28 housing companies, which in addition to apartments include a small number of leased ground-floor commercial premises. Nearly all of the properties were built in the 1990s and 2000s, and they are in excellent locations in 15 municipalities. Approximately 95% of the cash flow is from properties located in regional growth centres and university towns, such as Helsinki, Turku, Kuopio, Jyväskylä and Oulu.

Our firm’s team was led by Partner Matias Wallgren and included Counsel Rami Laatsalo and Associates Eeva Impiö, Ville Myllymäki and Minna Juhola.