Toivo Group Plc has signed sale agreements for two community properties valued approximately EUR 20 million with a fund managed by Nrep
Press release, 23 December 2024 at 11:00am
Toivo Group Plc (”Company” or “Toivo”) has signed sale agreements with a fund managed by Nrep for two community properties. The value of the transaction is approximately 20 million euros. The properties will be implemented during 2025-2026
One of the properties, located in Kangasala, is being developed for the use of Esperi Care Oy, with preparatory construction work already underway. The Kangasala property will provide housing for both elderly residents and individuals with developmental disabilities. The second property, designed for elderly residents, will be constructed in Helsinki. The goal is to begin construction on the Helsinki property in 2025. Both properties will utilize geothermal heating, be equipped with solar panels and be in A-energy class. Both properties will also be BREEAM certified.
The commencement of construction for both community properties still requires the completion of the transactions. The execution of the transactions involves uncertainties typical of real estate deals.
“In both projects, in addition to energy efficiency, special attention has been paid to the functionality and comfort of daily life for residents and staff. This provides an excellent foundation for continuing the development of social infrastructure projects in line with our strategy,” says Perttu Aikkila, Business Director of Toivo’s Community Properties division.
”It is great to begin collaboration with Nrep, a figurehead in its field. We thank them for their trust, and our goal is to deepen the partnership and explore mutual growth opportunities,” comments Toivo’s Chief Executive Officer, Markus Myllymäki.
”Nrep aims to invest in modern, high-quality care properties in growing urban centers, with a focus on sustainable development goals. We are very pleased to begin our collaboration with Toivo, whose entrepreneurial and customer-centric approach has made the partnership smooth from the very beginning. We hope to continue the excellent start to our cooperation on other projects as well," comments Thomas Buddén, Director of Community Property Investments at Nrep.
Toivo Group Oyj
Nrep
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 40 847 6206
markus.myllymaki@toivo.fi
Nrep
Thomas Buddén
Director, community properties
Tel. 044 0505889
thomas.budden@nrep.com
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 the 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 ensures that Toivo is able to generate additional value for 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, which enable long-term ownership and the generation of higher additional value for 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.
About Nrep
Nrep is the leading real estate developer and investor in the Nordic region, focused on advancing the entire real estate industry towards carbon neutrality. The company manages real estate assets worth approximately EUR 19 billion in Denmark, Finland, Sweden, Norway, and Poland, and employs over 400 experts, with more than 100 based in Finland. Nrep is known for its active role in property development, customer-centric approach, and its solutions in sustainability and technology. www.nrep.fi Nrep is a part of Urban Partners https://urban.partners/