Housing Portfolio Acquired by Kojamo — Real Estate M&A

Kojamo has completed the acquisition of the Varma housing portfolio, a property management business in Finland, for $22 million. Kojamo acquires Varma housing portfolio assets comprising 60 residential properties and 4,761 apartments, concentrated in the Helsinki, Tampere, and Turku metropolitan areas. The portfolio is expected to generate stabilised annual rental income of EUR 63.0 million as occupancy rises from about 83% toward Kojamo’s current level through Lumo brand onboarding and lettings platform operations. The real estate services M&A transaction is structured as a platform acquisition by a public company acquisition, with part of the consideration paid in cash and part via new Kojamo shares at closing.