PRESS RELEASE

eQ Asset Management Ltd will start investing in residential real estate during 2020. Unlike eQ’s existing special investment real estate funds, the residential fund will be a closed limited liability structure aimed mainly for professional institutional investors. Markus Pitkänen will be heading the residential investment management in eQ’s 13-strong real estate investment team. Markus Pitkänen, Master of Science (Technology), has 20 years of experience in residential real estate business and 25 years in real estate markets. Pitkänen joins eQ in February from Bonava Finland Ltd where he was Property Development Director.

”eQ Asset Management has been investing in care and health care real estate from 2012 and in commercial real estate since 2014. These two funds manage a combined 2.3 billion euros of assets. Residential is the only major real estate asset class eQ has not been involved in, until now. In our opinion, this is the perfect moment for us to expand into residential from the point of view of resources and market opportunity”, comments Tero Estovirta who heads eQ’s real estate investment team.

”Urbanization, people moving to and choosing to live in bigger cities, is a global megatrend set to continue for decades. Dense city structures enhance mitigation of environmental impacts and supports economic growth. Rental living is becoming more popular and home equity is no longer the self-evident option. Furthermore, the average household size is shrinking. These developments lead to changes in housing needs and availability in growing cities and city areas connected to them. We have the skills to manage real estate assets successfully in our team, and Markus Pitkänen will bring a major contribution to residential expertise”, concludes Estovirta.

Helsinki 20 January 2020

eQ Asset Management Ltd.

Further information:

Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, +358 50 593 6194 / tero.estovirta(at)eQ.fi