Finland’s Varma Sells €900 Million Housing Portfolio to Kojamo

Finland’s biggest private-sector pension fund Varma is exiting direct rental housing in a €900 million ($1.1 billion) deal with the country’s largest private residential landlord Kojamo Oyj.

Varma Mutual Pension Insurance Co. is selling its entire residential portfolio with 60 properties consisting of more than 4,700 apartments for a combination of cash and Kojamo shares, the companies said in a statement late on Tuesday.