Inside information: Toivo Group Plc is negotiating on the sale of five residential properties

Company release 15 December 2023 at 12:30

Toivo Group Plc (hereinafter referred to as “the Company”) is negotiating with an international professional real estate investor on a planned transaction in which the Company intends to sell residential investment properties owned by the Company for a total value of approximately EUR 20–30 million (hereinafter referred to as “the Transaction”). The purchase price would be paid in cash in the Transaction. The Company estimates that the final agreement concerning the Transaction will be signed in the first quarter of 2024 and that the agreement will include conditions related to the conclusion of the Transaction. The Transaction is also otherwise subject to uncertainties typical of real estate transactions. The Company estimates that the Transaction will be completed by the end of the first half of 2024.

The potential Transaction will not have an impact on the guidance for 2023.

Toivo Group Plc

Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 40 8476206
 

Certified Adviser: Danske Bank A/S, Finland branch

About Toivo

Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.

Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.

Toivo’s revenue in 2022 was EUR 20.3 million and its operating profit was EUR 15.6 million.