Brief: YIT And Ålandsbanken Establish A Company For Housing Investments

Alandsbanken Abp

18/09/2019 13:04

Sept 18 (Reuters) - Yit Oyj  YIT.HE :
    * YIT AND ÅLANDSBANKEN TO ESTABLISH A COMPANY FOR HOUSING
INVESTMENTS
    * YIT HAS AGREED ON SALE OF TEN RENTAL APARTMENT BUILDINGS
TO
COMPANY
    * INVESTMENT VALUE OF PROJECTS IS APPROXIMATELY EUR 112
MILLION
    * BUILDINGS WILL HAVE A TOTAL OF 537 APARTMENTS, AND THEY
WILL BE
COMPLETED IN 2020-2021
    * YIT'S SHARE OF JOINT INVESTMENT WILL BE 40%, AND
ÅLANDSBANKEN'S
60%
    * YIT WILL BE RESPONSIBLE FOR LETTING APARTMENTS, WHILST
ÅLANDSBANKEN WILL BE RESPONSIBLE FOR MANAGEMENT OF COMPANY
    * OBJECTIVE OF RENTAL APARTMENT PORTFOLIO IS TO PROVIDE YIT
WITH A
STEADY CASH FLOW AND TO CREATE VALUE INCREASE POTENTIAL

Source text for Eikon:  ID:nWkr9ggwbf 
Further company coverage:  YIT.HE 

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