White & Case advises Starwood Capital on sale of Finnish rental residential portfolio
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Global law firm White & Case LLP has advised Starwood Capital Group (Starwood Capital) and its operating partner Avara Oy (Avara) on the sale of a residential portfolio in Finland to Orange Capital Partners.
The portfolio of approximately 2,200 apartments is spread across 16 cities, with more than 50 percent of the value located in the Helsinki region. Avara has been the manager of the portfolio during Starwood Capital's ownership.
White & Case previously advised Starwood Capital on the acquisition of the portfolio in September 2019.
Starwood Capital is a global private investment firm with a core focus on real estate, energy infrastructure and oil & gas. Starwood Capital and its affiliates maintain 16 offices in seven countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital has raised more than US$70 billion of capital and currently has more than US$120 billion of assets under management.
Avara is Finland's leading residential real estate investment and asset management company, managing residential real estate in several funds with an aggregate value of €1.5 billion and responsible for the investment and asset management of approximately 8,500 rental apartments.
The White & Case team which advised on the transaction was led by partner Timo Airisto (Helsinki) and included partners Tanja Törnkvist (Helsinki) and Thomas Glauden (Luxembourg & Brussels), local partner Anna Dold (Frankfurt) and associates Victor Åberg, Samuel Salmivirta, Asta Tukiainen, Liselotte Grönlund, Satu Lindvall (all Helsinki), William Heywood (London), Géraldine Amory (Brussels) and Thomas Jacques (Dubai).
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