YCE Housing I completes its sixth project with YIT
YCE Housing I fund, managed by Vicus Capital Advisors, has completed its sixth investment. The fund invested in the residential development project Nuppu III in Bratislava, Slovakia.
The project is the third phase of YIT's largest area project in Bratislava called Nuppu. The value of the phase is over EUR 13 million. The project to be completed in summer 2019 will comprise approximately 110 apartments.
YEAR OF COMPLETION
Nuppu is located in Ruzinov district within walking distance from the city's business district and just 10 minutes from the city center. Approximately 1,000 apartments will be constructed in the project in total.
The investors in the YCE Housing I fund are YIT (40%), Etera (30%) and a group of Finnish private investment companies. The fund's equity is approximately EUR 37 million and it is managed by Vicus Capital Advisors Limited, a company with long experience of real estate investment and development activities in Eastern Europe and Russia. During the next years, the fund is expected to carry out over ten projects and approximately one thousand apartments to be sold primarily to private buyers.
Read YIT's press release here.