Toivo Group Plc completes the sale of a 16-apartment project in Espoo worth over EUR 5 million
Press release, 9 August 2022 at 1 p.m.
On 31 March 2022, Toivo Group Plc (“Toivo” or the “Company”) announced in a press release that it had sold a property of 16 apartments in Espoo worth over EUR 5 million to an institutional investor.
The property has been completed in accordance with a previously planned schedule and has now been turned over to the buyer. In connection with this, a previously agreed company acquisition has been concluded.
Markus Myllymäki, CEO of Toivo, is delighted with the handover: “We are delighted that we were able to deliver an excellent property to the institutional investor as agreed. Our employees have been working with care throughout the summer and, as a result, the new homes are of high quality.”
The project has been implemented in accordance with Toivo’s unique business model. Toivo has acted as the land developer and builder of the houses at the site.
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
markus.myllymaki@toivo.fi
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 2021 was EUR 13.6 million and its operating profit was EUR 15.8 million.
