Taaleri Real Estate and Keva, Finland’s largest pension insurer, have formed a joint venture aimed at investing a total of € 300 million in high-quality build-to-rent residential development projects in Finland’s growth centres.
Under the joint venture, Taaleri Real Estate will be responsible for project acquisitions, development, and portfolio management. The target assets will be centrally located with strong transport links in Finland’s largest urban hubs, including the Helsinki metropolitan area, Tampere, and Turku.
The joint venture’s projects will adhere to Keva’s responsible investment principles for direct real estate investments. These principles emphasize energy efficiency and the climate impact of energy production on-site at properties, ensuring that sustainability remains a core focus in the development and management of the new rental housing projects.
This partnership is part of Keva’s broader investment strategy, which has included similar joint ventures in other sectors. Keva has announced joint ventures with MREC Investment Management in the logistics sector and with Aktiivitilat for light industrial properties.
Taaleri currently manages a real estate portfolio worth approximately € 700 million through its funds and separately managed accounts. Keva, as Finland’s largest pension insurer, had direct real estate investments valued at €3.2 billion as of the end of 2023. Keva is the Finnish pension insurer responsible for pensions of public sector workers in state, municipal, and state church positions.