Patrizia pays €101m for 240-unit resi tower in Helsinki

Patrizia is paying Finnish developer SRV €101 million for a 240-unit residential tower in Helsinki, acquired on behalf of institutional clients.

The 24-storey T7 Tower, which will be completed in 2023 is located in Helsinki’s Kalasatama district and will have 10,112 sq m of apartments for rent in a mix of one, two and three bedroom units. The property will have an A-Class energy certification and a BREEAM ‘Very Good’ rating.

Kalasatama is six minutes from the central business district and is currently undergoing significant development.

Johan Öhlund Lagerdahl, Patrizia’s country head Finland said: “The Finnish residential market is supported by strong fundamentals and this latest deal follows our acquisition of a portfolio of multifamily residential properties in Helsinki earlier this year for around €145 million.”

Patrizia was advised by Nordanö, Hannes Snellman, EY and WSP.