Varma Mutual Pension Insurance Company outsources the management and disposal of 110.000 sqm real estate portfolio to Catella Asset Management Oy. The assets of the portfolio are mainly located in the Helsinki Metropolitan Area and in growth centers.
As a part of the new mandate Catella Asset Management establishes a new property fund, Pegasus Real Estate Ky, which will own several of the real estate assets. The sales will be done in co-operation with Catella Property Oy which is part of Catella Group. The aim is to develop and sell the assets of the portfolio during the coming years.
"This arrangement is part of Varma's strategy where we have aimed to increase the average size of our direct real estate holdings to be better aligned with our total assets under management. We are also having several real estate construction and development projects ongoing or starting in the near term that will shape our future portfolio composition. During 2018 we expect to invest around 150 million euros in domestic real estate projects." explains Varma´s Investment Director (Real Estate) Ilkka Tomperi.
"We are very happy to provide the solutions and services to Varma to execute their strategy. In this mandate Catella has a great possibility to combine its country wide strong knowledge in asset management but also on its capacity to sell assets. Catella Asset Management has several years of experience from assets that require active asset management. The co-operation with Catella Property Oy enables us to execute sales both in HMA and in smaller municipalities" states Catella Asset Management Oy´s Managing Director Eero Syväniemi.
Catella Asset Management Oy
+358 50 2076
Varma Mutual Pension Insurance Company