Real estate fund management and services company Premico has announced the first closing of its newest residential fund, Premico Residential Fund III, at the end of September with equity commitments of 45 MEUR. The fund is open for new investors and targets to raise 250 MEUR of equity in total. In connection with the first closing, the Fund has signed its first acquisition and aims for several further acquisitions yet during the fall of 2022.
Premico Residential Fund III will construct approximately 1700 units of new rental apartments mainly in the Helsinki Metropolitan Area by 2025. The Fund has committed to zero operational CO2-emissions and decreasing the carbon footprint during the construction phase. All the Fund’s assets will have an Energy Efficiency class A (the best class), a BREEAM or LEED Certification and will be fully compliant with the EU Taxonomy criteria for new construction.
”We are naturally extremely pleased with the trust the investors have on Premico and our newest fund, which benefits from our strong in-house property development, rental residential management and sustainability expertise.”, the CEO of Premico, Sami Kiehelä states.
The Fund’s investors are institutional investors including Veritas Pension Insurance and Seafarers’ Pension Fund. “Decarbonisation is unquestionably the biggest challenge of all times also to property industry. All our investors share a common ambition to change the industry towards a more environmentally sustainable future.” Samuel Tuomola, the CIO of Premico continues.
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