PRESS RELEASE
7 January 2015 at 10:50 a.m.
eQ LAUNCHED FINNISH REAL ESTATE (AIF) FUND WITH AN ACQUISITION OF TWO PROPERTIES
eQ Asset Management Ltd launched a new real estate fund on 31 December 2014. Special Investment Fund eQ Finnish Real Estate (AIF) invests in Finnish commercial real estate properties. The fund is open for new investors quarterly and semi-annually for redemptions. The fund pays out at least 75% of its annual profits and aims for a 6% annual distribution.
At start, eQ Finnish Real Estate acquired two fully-let and relatively recently built properties in the Helsinki Metropolitan Area for a combined deal value exceeding 23 million euros. The sellers were VR Pension Fund (Myllytie 1, Järvenpää) and Etera Mutual Pension Insurance Company (Peltomäenkatu 2-4, Kerava).
‘’Real estate asset management is one of the focus areas of eQ. Our second real estate fund launch follows our strategy in this asset class where we already are a substantial real estate manager. We see great return potential in commercial real estate, despite the current Finnish economic situation and we are especially pleased to start investing in these two fully-let, relatively new-build properties in excellent locations. We are also delighted to get on board two major Finnish institutions, VR Pension Fund and Etera Mutual Pension Insurance Company, which enables us to get a flying start for the new fund’’, says Tero Estovirta, Head of Real Estate Investments at eQ Asset Management.
eQ’s first real estate fund, eQ Care has been a great success. The fund has over 1,250 unit holders and it invests in Finnish care and health care properties with an equity capital exceeding 150 million euros and an investment capacity of over 300 million euros. eQ Care currently owns 53 properties and during the second half of 2014 alone the fund closed over 30 acquisitions for a combined transaction value exceeding 100 million euros.
Helsinki 7 January 2015
eQ Asset Management Ltd
Further information:
Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, tel. +358 50 593 6194 / tero.estovirta@eQ.fi
eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 7.4 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.
More information about the Group is available on our website at www.eQ.fi.