Avara completed the acquisition of residential real estate portfolio from S-Pankki.

Avara, the residential fund II, completed the acquisition of residential real estate portfolio from S-Pankki, a so-called supermarket bank in Finland. Financial terms were no disclosed. "Together with our ongoing development projects, this transaction will achieve approximately half of the fund's target in almost the first year of operation. The supply of our own project development is strong, which means that we will keep the fund's funding open until the summer," Arttu Ekqvist, Avara CEO.