Storebrand expands into Finland with €80m residential deal

Storebrand Real Estate is expanding its presence in the Nordic market by acquiring two residential properties in Espoo, Finland, through its Storebrand Nordic Real Estate II (SNRE II) fund. 

Henrik Bastman

These acquisitions, finalised in December 2025 through two separate off-market deals totalling €80 mln, represent the fund's second and third investments since its establishment in October 2025, following an initial acquisition in Denmark.
The transactions were carried out as two off-market deals: one with Citycon and the other with Toivo.
The newly acquired properties in Espoo, Finland's second-largest city and part of the Helsinki metropolitan area, consist of 376 apartments with a combined leasable area of 16,269 m2. These modern, energy-efficient buildings are strategically located near metro stations, capitalising on Espoo's stable population, high education levels, and strong purchasing power, which make it an attractive market for residential investments.
These transactions mark Storebrand Real Estate's first direct investments in Finnish real estate and further solidify SNRE's Nordic portfolio. Sirius Capital Partners will manage the properties on behalf of SNRE II.
Henrik Bastman, portfolio manager for SNRE II and CEO of Storebrand Real Estate Sweden, said: “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. 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.”
Truls Nergaard, CEO of Storebrand Real Estate, added: “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.”
Storebrand Real Estate oversees a property portfolio valued at around €9 bn, encompassing 250 assets and over 2 million m2 of rentable space.