Mandatum and funds advised by Morgan Stanley Real Estate Investing have established a new joint venture focused on residential real estate in the Helsinki Metropolitan Area. The partnership has been launched with an initial portfolio of approximately 360 residential units across seven high-quality properties located in Helsinki, Espoo and Vantaa. Four of the properties were previously owned by Mandatum. The joint venture plans to expand its portfolio through further residential acquisitions in the region.
The seed portfolio is concentrated in fast-growing urban areas and reflects a focus on modern, well-located residential assets. Mandatum holds a minority ownership stake in the joint venture and serves as its asset manager. Its real estate asset management team is responsible for implementing the investment strategy and overseeing day-to-day asset management.
As part of the transaction, Mandatum has sold four residential properties from its own balance sheet to the joint venture’s seed portfolio. The total value of the seed portfolio exceeds EUR 70 million, of which EUR 26 million relates to the assets sold by Mandatum.