Lithuanian Fund Active in Estonia Makes Major Investment in Helsinki Main Street Real Estate

Evernord Real Estate Fund VI is entering the Finnish real estate market for the first time, acquiring a majority stake together with partner Mirlux Oy in a building complex with a total area of more than 6,000 square meters located on Helsinki's main street. In Estonia, Evernord investors have financed the high-rise building Stellar in central Tallinn, the residential quarter Das Haus, as well as the real estate development of the Volta quarter.

Evernord Real Estate Fund VI and Mirlux Oy acquired a majority stake in the company Kiinteistö Oy Mannerheimintie 168B from Kojamo Oyj, Finland's leading rental real estate company listed on Nasdaq Helsinki. With the transaction, the property is intended to increase the share of residential space and be comprehensively adapted into a mixed-use building complex that meets today's market needs.

This is Evernord's first investment in Finland, but the company's fund portfolio already includes large real estate objects in Tallinn, Riga, and Vilnius. "The Finnish real estate market is a logical next step for us – stable, transparent, and attractive for long-term investors. This property offers an excellent opportunity to set foot in the Nordic region for the first time in cooperation with a strong local partner," says Gintaras Rutkauskas, CEO of Evernord Asset Management UAB. He adds that Evernord has been successfully operating in the Baltic states for years, and is now seeking new projects in the Nordic region and Southern Europe to ensure greater geographic diversification of investments.

The acquired building complex is located in the Pikku Huopalahti / Ruskeasuo district, approximately 15 minutes from Helsinki city center. The total building area is 6,649 square meters and the property size is 3,506 square meters. The complex currently includes 56 apartments, ground floor commercial and restaurant spaces, as well as office rooms.