JM Suomi has signed an agreement with ICECAPITAL to sell two residential projects to ICECAPITAL’s latest housing fund in a deal valued at approximately €51.7 million. The arrangement also includes a €20 million equity commitment from JM Suomi to the fund over the next three years.
The projects are located in Helsinki and Espoo. The Helsinki property is a 65-apartment development in the Sohlberg block of Herttoniemi, while the Espoo property is a 128-apartment scheme in the Puustellinkallio area of Leppävaara.
The Herttoniemi project is expected to be completed during the second quarter of 2027, and the Leppävaara project during the fourth quarter of 2027.
As part of the transaction, JM Suomi will invest €20 million in ICECAPITAL’s fund over a three-year period, in line with the fund’s further investments in new residential properties.
The sold properties are part of larger residential areas being developed by JM. In Herttoniemi’s Sohlberg block, JM is building a total of 13 buildings, one of which will be a parking structure serving as a noise barrier. The newly sold project is the tenth to be launched in the area. In Leppävaara’s Puustellinkallio district, JM Suomi is developing a total of 13 residential buildings. Eight have already been completed, making the newly launched project the ninth housing company in the area.