eQ, a Finnish group of companies specializing in asset management, is targeting €100 million ($112 million) for its first residential property fund, Special Investment Fund eQ Residential.
The fund has raised €33 million ($37 million) of commitments to date, and will continue to fundraise into fall.
eQ Residential will invest in residential real estate in the Finnish cities of Helsinki Metropolitan Area, in Tampere and in Turku. The fund targets complete residential buildings and aims to manage a total of 1,500 rental units.
Markus Pitkanen, a residential markets veteran, has been appointed to manage the fund.
”Residential property is an essential and a significant part of the real estate markets and for several reasons rental housing is a growing market in Finland,” said Tero Estovirta, head of real estate investments at eQ. “In residential we will focus more on building and developing than in our two other funds, which combined with higher lev
