Helsinki, Finland
HELSINKI, FINLAND – Starwood Capital Group and Avara Oy have acquired a Finnish rental residential portfolio, from a group of domestic vendors.
The portfolio, acquired through a controlled affiliate, contains 72 assets of 2,200 units located across 16 cities; 50% of which by value are situated in the Helsinki region.
Starwood Capital will invest in the transaction through its 11th opportunistic real estate fund, Starwood Global Opportunity Fund XI, which holds commitments of more than $7.5 billion.
Pangea Property Partners and Advium Corporate Finance served as financial advisors to both Starwood Capital and Avara on the transaction. White & Case served as legal advisor to the firms.
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As a global private investment firm, Starwood Capital Group has invested in more than 30 countries around the world. The firm holds a current portfolio of 74,000 multifamily units and more than $60 billion in assets under management. Founded in 1991, the firm has raised $45 billion of equity capital, while maintaining 12 offices in five countries with 4,000 employees.
Avara Oy is a residential real estate investment and asset management company in Finland. The firm is responsible for the investment and asset management of 8,000 rental apartments, while currently managing real estate in funds valued at €1.2 billion.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
