Avara Residential Fund II invests in modern residential properties. The portfolio will consist of project developments and also the purchase of existing properties in Finnish growth regions (e.g. Helsinki, Tampere, Turku). The high demand for housing due to continued high population influx ensures a dynamic rental development and consistently high occupancy rates.
Kontora-clients invest in Avara. The company's main activities include investment management (acquisition and sale of portfolio properties, development and implementation of own projects), asset management (cost and liquidity management of the property companies) and property management (operational tenant management, technical building management). The company is owned by the management and institutional investors from Finland. The fund will generate ongoing distributions from rental income from year one. It is planned to sell the portfolio at the end of the term to an institutional investor.
"We like the Finnish real estate market and consider the time to be very favorable for an investment. We had the opportunity to meet the Avara team in person in Helsinki at the end of September 2020. During this due diligence trip we were able to get a very good sense of the standards and overall high quality of existing projects as well as projects under construction. We are very pleased to invest alongside this experienced regional partner. It’s a great opportunity to deepen the regional diversification of Kontoras real estate portfolios ", says Dr. Patrick Maurenbrecher, Managing Partner and CIO at Kontora.
Avara operates as a full-service real estate company in the Finnish residential real estate sector and is owned by management and institutional investors from Finland. Its activities include investment management (purchase and sale of existing properties, development and implementation of own projects, fund business) and asset management as well as property management.
Avara has been active in Finland since 1939 and currently manages several real estate portfolios (approx. EUR 1.2 billion AuM) as well as the predecessor fund. The team consists of 27 employees, all of whom have many years of real estate experience. The Kontora Family Office is looking forward to a beneficial cooperation.