Nuveen Real Estate has completed a deal to forward-purchase the delivery of 141 single-family housing units in the Helsinki metropolitan area.
The assets were acquired for €42 million ($46 million), on behalf of Nuveen’s pan-European diversified value-added strategy.
This latest acquisition takes the strategy to more than 25 percent of capital deployed, with fundraising continuing through 2024 to capitalize on potential returns through mispricing and repositioning opportunities in line with global megatrends.
The strategy has more than €350 million ($380 million) of dry powder following an additional closing in March this year and has developed a strong acquisition pipeline as repricing opportunities come to market.
Situated in the Helsinki metropolitan area, the 141 units are located across four single-family estates where there is an acute lack of supply. Nuveen will partner with Toivo Group Oyj, the leading developer of single-family rental hou
