Taaleri will develop a significant housing project in the Canadian city of Barrie, one hundred kilometres north of Toronto. Taaleri Investments Ltd’s Canadian subsidiary has acquired for the purpose a plot valued at approximately EUR 4.2 million in collaboration with the company Aalto Real Estate. Taaleri’s share of the investment is EUR 3.8 million.
The plot is currently in a zoning process for the construction of a high quality apartment building. The project, developed by Taaleri, will have a floor area of approximately 25,000 square metres. According to current plans, construction could begin in autumn 2018, in which case the estimate time of completion of the apartment building would be the beginning of 2021.
Barrie, situated on the shores of Lake Simcoe, has a population of just over 160,000 inhabitants and it belongs to the Toronto Economic Region in the Province of Ontario. The train journey between Barrie and Toronto takes 80 minutes.
“This continues our series of carefully selected international real estate projects. We already have a number of projects in Africa, where the expected yields are clearly higher than the European level. In terms of potential yield, we are looking for ideal projects where we can offer both expertise and capital,” says Jouni Alho, Director, Real Estate Funds at Taaleri Plc.
The private equity funds managed by Taaleri have also invested approximately EUR 140 million in real estate projects in the rapidly developing metropolises of East Africa, in the first phase of the internationalisation of investment activity. In Finland, Taaleri participates through its funds in real-estate development and rental housing business.
Jouni Alho, Director, Real Estate Funds, 358 50 305 4104, email@example.com
Taaleri in brief
Taaleri is a financial group whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Ltd Group, Taaleri Investments Ltd Group, Taaleri Energia Oy and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and marketing information for investors.
At the end of June 2017, Taaleri had assets under management totalling EUR 5.3 billion and 4,300 wealth management customers. Taaleri Plc has over 3,200 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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