The fund Storebrand Nordic Real Estate II (SNRE II) was established in October 2025. Shortly thereafter, the fund completed its first acquisition in Denmark, and today the fund’s second and third acquisitions are being announced, consisting of two residential properties in Espoo.

The Finnish properties comprise of 376 apartments with a total leasable area of 16 269 sqm. The transactions, amounting to approximately 80 MEUR, were carried out as two off-market deals: one with Citycon as the seller dated 18 December 2025, and the other with Toivo as the seller dated 19 December 2025.

Espoo is Finland’s second-largest city and an integral part of the Helsinki metropolitan area. The region is characterized by a stable population structure, a high level of education, and strong purchasing power, creating long-term attractive conditions for residential investments. The two acquired properties are modern, energy-efficient (rated energy class A/B), and located close to metro stations.

”The Finnish economy in general, and the housing market in particular, are in an interesting phase. In the medium term, we see potential for rental growth that stands out from a Nordic perspective,” says Henrik Bastman, Portfolio Manager for SNRE II and CEO of Storebrand Real Estate Sweden.

The Finnish acquisitions are Storebrand Real Estate’s first direct investments in Finnish real estate.

”The Finnish acquisitions complement the fund’s earlier Danish residential acquisitions and are fully in line with SNRE II’s strategy of investing in attractive, well-located core plus assets with long-term potential in sectors supported by structural tailwinds,” says Henrik Bastman.

SNRE I and II represent a further development and expansion of Storebrand Real Estate’s Nordic fund offering.

”We are in a strong development phase in which we are strategically building a leading Nordic position. The establishment in Finland demonstrates how we are rapidly expanding our pan-Nordic offering,” concludes Truls Nergaard, CEO of Storebrand Real Estate.

The properties will be managed by Sirius Capital Partners on behalf of SNRE II. Advisors to SNRE II in the process have been Sirius Capital Partners, Avance, PWC and Sitowise.

SNRE II is based in Luxembourg and offers flexible legal ownership structures to suit different types of investors.

Storebrand Real Estate manages a property portfolio of approximately EUR 9 billion, consisting of 250 assets and more than 2 million sqm of lettable area. The property team includes 80 professionals across the Nordic region.