Finnish public sector pension provider Keva and asset manager Taaleri Kiinteistöt have partnered on a joint venture to invest €300m in high-quality rental housing projects in Finland's growth centres.

Taaleri Kiinteistöt will be responsible for real estate acquisitions, construction, and property management.

In addition to this, it has mapped potential investment targets and is actively looking for rental housing projects to be acquired in accordance with the investment strategy. The sites are located with good transport connections in the Helsinki metropolitan area, Tampere and Turku.

The projects comply with Keva's principles of responsible investment, including ensuring the energy efficiency of properties and the climate impacts of energy production used in properties in terms of direct real estate investments.

Commenting on the joint venture, Keva head of real estate investments, Carl-Henrik Roselius, said Keva believes in further urbanisation, and the creation of a sustainable urban structure and wants to offer “high-quality” new housing close to public transport connections and services.

Roselius said he was “happy” Keva’s thoughts crossed paths with Taaleri Kiinteistöt.

Adding to this, Taaleri Real Estate director, Mikko Krootila, said it was “grateful” for the trust and commitment shown by Keva in building modern and functional rental apartments in Finland at a time when new construction start-ups are at “rock bottom”.

“We believe that the concentration of the population in growth centres will continue to increase the demand for high-quality rental apartments,” Krootila added.

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