German residential real estate investment fund Catella Wohnen Europa, part of Catella Group, has bought more than 300 apartments across Finland for about 80 million euros ($90 million).
Of the 300 apartments, Catella Wohnen Europa, advised by Catella Residential Investment Management, six residential properties, comprising 18,500 square meters, were acquired from Finnish insurance firm Fennia and its subsidiary Fennia Life.
The properties are mainly located in the Helsinki Metropolitan Area, with one in Tampere and another in Jyvaskyla. This portfolio is located in the Helsinki region and two regional hubs that are also major university cities.
Catella Wohnen Europa noted that the transaction will bring the fund's assets under management close to the $896.6 million and strengthen its European residential platform across Europe.