Kojamo secures new €75m credit facility for urban housing

Kojamo, Finland's leading private residential real estate company, has successfully secured a new €75 mln revolving credit facility with Danske Bank. 

Kojamo - rental housing

This agreement, which replaces an older facility set to mature in 2026, is unsecured and has a three-year term with two one-year extension options. 
The funds are designated for general corporate purposes, reinforcing Kojamo's commitment to providing high-quality urban housing and developing its property portfolio.
This latest move follows a series of refinancing efforts, including a €100 mln bank loan with Swedbank in June and another €100 mln loan with OP in August. These actions have extended Kojamo's loan maturity profile and reduced its average interest rate. The company's next financing focus will be on loans maturing in 2027.
At the end of the first half of 2025, Kojamo's portfolio included 40,946 rental apartments. In a strategic decision, the company completed the sale of 1,944 apartments, primarily located outside the capital region. This transaction, the largest residential deal in Finland this year, was finalized in July. The proceeds will be used to reduce debt and for share buybacks, strengthening the company’s financial position and benefiting shareholders.
The rental market, particularly in the Helsinki metropolitan area, continues to face an oversupply. While some new owner-occupied housing projects have been initiated, significant growth in housing construction is not expected in the near future. The number of available rental apartments remains high, though the expansion of supply seems to have stalled.