Beskrivning
| Land | Finland |
|---|---|
| Lista | First North Finland |
| Sektor | Fastigheter |
| Industri | Förvaltning |
Press release, 28 February 2025 at 12:00pm
Toivo Group Plc (”Toivo”) has signed contracts and begun a EUR 6,8 million regional construction project in Espoo. The project is part of the previously announced EUR 42 million portfolio for Nuveen Real Estate, which will contain approximately 141 apartments in total.
The single family home portfolio comprises one completed and three to-be-constructed properties in Helsinki, Espoo and Vantaa, featuring private yards, family-sized homes, and A-class energy ratings. Toivo will deliver the properties between 2025 and 2027. The investor for this portfolio is Nuveen Real Estate, which manages $147 billion of assets and has also invested in single family homes elsewhere in Europe.
“We thank Nuveen for their trust and look forward to carrying out this project in good collaboration. The new development consists of 22 apartments, and construction is already underway. Completion is scheduled for the turn of the year 2025-2026. This is a high-quality terraced and semi-detached housing project that will be highly sought after on the rental market” says Jukka Lampela, the project manager for the development.
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Oyj
Tel. +358 (0)40 8476206
markus.myllymaki@toivo.fi
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.
Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo’s revenue in 2023 was EUR 43,7 million and its operating profit was EUR -0,3 million.