“We have for some time been reviewing our holdings in investment properties and have concluded that indirect ownership is better suited to SLS than direct ownership. The capital released from the buildings we are now selling to Keva will be reinvested in indirect investment instruments with a focus on real estate,” says Björn Teir, CEO of SLS.

The properties being divested are Stora Robertsgatan 12 and Stora Robertsgatan 14 in Punavuori, Mechelingatan 4 and Runebergsgatan 50 in Töölö, and Mariegatan 10 in Kruununhaka. In total, the buildings comprise 181 rental apartments and slightly more than a dozen commercial units. The residential lease agreements will remain unchanged and will transfer from SLS to the new owner as part of the transaction.

“Properties of this type rarely come to market. They are centrally located with excellent transport connections, making them a strong complement to our residential portfolio. We warmly welcome the tenants as new residents of Keva Kodit,” says Sami Kesonen, Deputy Director at Keva’s Real Estate Investment Unit.

Approximately 7 percent of SLS’s total assets are invested in real estate, both through direct ownership of buildings, housing, offices, forests and land, and through investments in real estate funds. Part of the real estate portfolio consists of public-purpose properties.

“Our objective is for the proportion of real estate investments in our portfolio to remain at roughly the same level going forward, but within a new structure based on indirect ownership with broader diversification, both geographically and across different property types,” Teir adds.