Starwood Capital Group and its operating partner Avara Oy have sold a Finnish residential portfolio to Orange Capital Partners.
The portfolio consists of approximately 2,200 apartments and is located across 16 cities, with more than 50 percent of the portfolio value located in the Helsinki region. The portfolio is characterized by its high-quality profile and commitment to sustainable residential living space.
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 program during their ownership, improving the experience of occupiers and enhancing the portfolio's sustainability profile.
Starwood Capital, on behalf of its managed funds, is
