Press release July 16th 9:30 am
Toivo Group Plc ("Toivo") has signed contracts and launched a EUR 10,5 million regional construction project in Espoo. The project is part of the previously announced EUR 42 million portfolio for Nuveen Real Estate, which will contain approximately 141 apartments in total.
The single-family home portfolio comprises one completed and three to-be-constructed properties in Helsinki, Espoo and Vantaa, featuring private yards, family-sized homes, and A-class energy ratings. Toivo will deliver the properties between 2025 and 2027. The investor of this portfolio is Nuveen Real Estate, which manages $147 billion of assets and has also invested in single family homes elsewhere in Europe.
"We thank Nuveen for their trust and look forward to carrying out this project in good collaboration. The new development consists of 32 apartments, and construction is already underway. Completion is scheduled for autumn 2026. This is a high-quality terraced housing project that will be highly sought after on the rental market" says Petter Ruuskanen, the property development manager.
Toivo Group Oyj
Further information
Markus Myllymäki
Toimitusjohtaja
Toivo Group Oyj
Puh. 040 8476206
markus.myllymaki@toivo.fi
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company's business model is unique as Toivo's business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo can generate additional value for its customers, shareholders and stakeholders.
Toivo's strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo's customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo's team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo's revenue in 2024 was EUR 39,8 million and its operating profit was EUR 4,5 million.
