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AXA IM - Real Assets makes €130M buy of 22-asset Finnish resi portfolio

AXA Investment Managers - Real Assets acquired 909 rental apartments spread across a portfolio of 22 buildings in Finland, in a deal valued at approximately €130 million.

Among the portfolio, which features a mixture of freehold and leasehold properties, 13 buildings are in Tampere, six in Helsinki and three in Jyvaskyla.

The buildings are almost fully occupied and offer 44,198 square meters of total lettable area, with individual units averaging 49 square meters, according to a release.

The transaction, conducted on behalf of AXA-sponsored funds, boosts the company's Finnish residential assets under management to 1,143 units, worth in excess of €170 million.