VVO Group signed an agreement with Pohjola Rakennus Oy Uusimaa on the construction of rental apartments in Helsinki, Vantaa and Hyvinkää, with a total value of nearly EUR 50 million. All in all, this agreement involves the construction of 263 Lumo rental apartments, most of which will be completed during the next two years.
Peab and VVO Group signed an agreement on the construction of two privately financed apartment buildings, consisting of 190 rental apartments and a parking facility, in Marinkallio, Espoo.
Skanska and VVO Group agreed on the construction of four apartment buildings at Pyhtäänkorventie 25 in the Aerola residential area in Veromies, Vantaa. The 139 new privately financed rental apartments will be completed in February 2018.
VVO Kodit Oy and Lehto Group Plc signed a cooperation agreement on the construction of more than 100 rental apartments in the Helsinki Metropolitan Area.
VVO Kodit Oy and Temotek Oy, based in Oulu, signed a cooperation agreement on building 73 Lumo apartments in the Linnanmaa district in Oulu. The apartments will be completed in 2017. The site is located in the immediate vicinity of Technopolis Oulu and the campus of the University of Oulu.
Lemminkäinen and VVO Group signed an agreement on the construction of 67 rental apartments at Kahvipavunkuja in Helsinki’s Vuosaari district. The apartments will be completed in the autumn 2017.
On 4 July 2016, VVO Kodit Oy acquired ICECAPITAL Housing Fund II, which owns 2,274 rental apartments. The apartments covered by the transaction are market-based, and most of them are located in Helsinki, Espoo, Vantaa and Tampere.
VVO Group signed a preliminary agreement on the acquisition of seven properties currently occupied by Metropolia University of Applied Sciences. VVO Group’s VVO Kodit Oy signed a preliminary agreement on the purchase of properties at Onnentie 18, Sofianlehdonkatu 5, Tukholmankatu 10, Agricolankatu 1–3, Albertinkatu 40–42, Abrahaminkatu 1–3 and Bulevardi 29–31 with the City of Helsinki and Merasco Real Estate Ltd Oy. Under the terms of the agreement, the fixed sales price is set at EUR 80.9 million, as determined by a valuation based on existing building rights to develop further commercial provision. The sales price may be adjusted in the event that the building rights are amended following a revision of the local plan as applied for by the purchaser.
VVO Kodit Oy signed a preliminary agreement with Rakennus Omera Oy and e-House Oy with regard to the entire share capital of Helsingin Ristiretkeläisenkatu 19. The site will consist of 30 new Lumo rental apartments.
Towards the end of the year, VVO Group signed an SPA whereby its various group companies sold a total of 1,344 non-restricted apartments, located around Finland, to a company managed by Avant Capital Partners. The transaction was completed on 31 January 2017.