Kojamo plc Stock exchange release 31 July 2025 at 12:00 p.m. EEST
Kojamo has completed the sale of 44 residential properties
Kojamo Group's companies have completed the sale of 44 rental housing properties
to Apollo-managed funds (NYSE: APO) and Avant Capital Partners for a debt-free
sale price of EUR 242 million. The transaction was announced on 6 June 2025.
With the transaction, 1,944 apartments were sold from eight different
municipalities across Finland. The properties were mostly completed between the
1970s-2000s, and they are located in Jyväskylä, Lahti, Kuopio, Hämeenlinna,
Helsinki, Tampere, Turku and Espoo.
The transaction is estimated to decrease Kojamo's total revenue in 2025 by
approximately EUR 9.2 million and FFO by approximately EUR 2.9 million. The sale
price is approximately 10 per cent below the balance sheet value for 2024. The
company estimates that the transaction does not have an impact on the fair
values of the remaining investment properties. The impact on the occupancy rate
is estimated to be marginal. The transaction will result in approximately EUR 25
million in taxes, payable in January 2026.
The proceeds from the transaction are intended to be used to repay debts and
possibly for share buybacks.
For more information, please contact:
Ville Raitio, Executive Vice President, Investments & Portfolio Management,
Kojamo plc, tel. +358 20 508 3012, ville.raitio@kojamo.fi
Distribution:
Nasdaq Helsinki, key media
Kojamo is Finland's largest private residential real estate company and one of
the biggest investors in Finland. Our mission is to create better urban housing.
Lumo offers environmentally friendly housing and services for the city dweller
who appreciates quality and effortlessness. We actively develop the value of our
investment properties by developing new properties and our existing property
portfolio. We want to be the property market frontrunner and the number one
choice for our customers. Kojamo's shares are listed on the official list of
Nasdaq Helsinki. For more information, please visit https://kojamo.fi/en/