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Starwood Capital Group, Avara Sell Finnish Apartment Portfolio to Orange Capital Partners.

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MANews-(C)2009-2022

US-based private investment firm Starwood Capital Group and its operating partner Avara Oy have sold a Finnish residential portfolio to Orange Capital Partners, the firm said.

The portfolio consists of approx. 2,200 apartments and is located across 16 cities, with more than 50% of the portfolio value being located in the Helsinki region.

Starwood Capital, through a controlled subsidiary, acquired the portfolio in 2019 as it saw attractive relative value in the Finnish residential market, coupled with strong supply and demand fundamentals, which contributed to the portfolio's extremely resilient performance throughout the pandemic.

Starwood Capital and Avara were able to execute a large-scale apartment refurbishment programme during their ownership, improving the experience of occupiers and enhancing the portfolio's sustainability profile.

Starwood Capital, on behalf of its managed funds, is the largest owner-manager of rented residential product in the United States, with more than 120,000...

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