Mandatum Oyj: Mandatum and Morgan Stanley Real Estate Investing launch joint venture to invest in residential real estate in Finland; Mandatum sells four properties to seed portfolio
Press release, 18 December 2025 at 12:00 P.M. EET
Mandatum and funds advised by Morgan Stanley Real Estate Investing have formed a joint venture to invest in residential properties in the Helsinki Metropolitan Area. The new venture has been launched with an initial acquisition of around 360 units across seven high-quality residential properties, including four previously owned by Mandatum. The joint venture is looking to grow through more acquisitions going forward.
Mandatum and Morgan Stanley Real Estate Investing have established a new joint venture, which invests in Finnish residential properties. The seed portfolio consists of seven residential properties all located in fast-growing areas within Helsinki, Espoo and Vantaa. The joint venture aims to make more acquisitions in the Helsinki Metropolitan Area. Mandatum will hold a minority stake in the venture and serve as its asset manager, with its real estate asset management team playing an important role in executing the joint venture's investment strategy.
"This transaction is an indication of the revitalisation underway in the Finnish real estate market. We are delighted to launch a partnership with Morgan Stanley Real Estate Investing and introduce an investment strategy aimed at driving strong growth in residential properties. This collaboration further expands our high-profile international partnerships," says Emilia Riikonen, Head of Real Estate Investments at Mandatum.
"We are excited to begin this new venture with a strong partner like Mandatum, which brings years of expertise and an exceptional track record of creating value in real estate. With strong underlying fundamentals in the Finnish residential market, we believe it is well-positioned for growth and new investments," says Arjun Bathla, Executive Director of Morgan Stanley Real Estate Investing.
Mandatum continues to reduce the investment risk of its own balance sheet
In line with its strategy for the with-profit business area, Mandatum has sold four residential properties located in the Helsinki metropolitan area to the seed portfolio of the joint venture. The overall value of the seed portfolio is over EUR 70 million of which the value of the assets sold by Mandatum is EUR 26 million. The sale will have a negative impact of around EUR 4.5 million on Mandatum's fourth quarter result.
As a result of the transaction, the investment risk of Mandatum's own balance sheet is further reduced, as the proportion of real estate investments decreases from three per cent to two per cent. Since its listing, Mandatum has communicated its commitment to systematically reduce the investment risk on its own balance sheet, which in turn lowers capital requirements and releases capital.
Additional information:
Emilia Riikonen
Head of Real Estate Investments
Tel. +358 50 501 2481
emilia.riikonen[a]mandatumam.com
Lotta Borgström
VP, Investor Relations
Tel. +358 50 022 1027
lotta.borgstrom[a]mandatum.fi
Niina Riihelä
SVP, Communications, Brand and Sustainability
Tel. +358 40 728 1548
niina.riihela[a]mandatum.fi
Mandatum in brief
Mandatum is a major financial services provider, combining expertise in asset and wealth management and life insurance. Clients include institutional investors, companies and private individuals. Mandatum offers a broad range of services encompassing asset and wealth management, compensation and rewards, supplementary pensions and personal risk insurance. Skilled personnel, strong brand and proven investment track record are at the centre of Mandatum's success. The company has been listed on Nasdaq Helsinki since 2023.
Mandatum plc acts as the parent company of the Mandatum Group and conducts its business through its subsidiaries. Mandatum Life Insurance Company Ltd provides private and corporate customers with services in wealth management, compensation and rewards, pension planning, and personal insurance. Mandatum Asset Management is an investment services company that combines fund operations, discretionary and advisory wealth management services, as well as asset management solutions. mandatum.fi/en/group