SRV and ICECAPITAL invest in Helsinki area’s housing market

SRV GROUP PLC   INVESTOR NEWS   02 OCTOBER 2012 at 10:30

SRV has sold two housing projects in Helsinki metropolitan area to ICECAPITAL Group’s real estate fund. ICECAPITAL Housing Fund III Ky acquired SRV’s developer contracting projects from Viertola, Vantaa and Kannelmäki, Helsinki.  These sites include a total of 63 apartments.

“SRV is one of the biggest housing constructors in Helsinki metropolitan area. In addition to owner occupied housing, we also want to offer quality apartments located along good traffic links to Helsinki areas rental markets. I’m happy that through it’s funds ICECAPITAL is promoting the emergence of quality rental housing production, says Antero Nuutinen, SRV’s Vice President in charge of domestic housing production.

The sale is continuation of cooperation that started last spring, when ICECAPITAL acquired one of SRV’s own development housing projects located in Tikkurila, Vantaa.

“This sale is a natural continuation in our well started cooperation. The focus of ICECAPITAL Housing Fund III Ky real estate fund is in Helsinki metropolitan area, where demand for rental housing production constantly exceeds the supply. Hence, quality housing production offers an excellent addition to our portfolio, says Wisa Majamaa, Managing Director of ICECAPITAL.

Further information:

Antero Nuutinen, SRV, tel. +358 (0)20 145 5302
Wisa Majamaa, ICECAPITAL REAM, tel. +358 (0)40 826 1001