Kojamo has agreed to acquire a housing portfolio and issued special rights entitling to shares

HELSINKI, Finland, Feb. 10, 2026 /PRNewswire/ -- Kojamo plc, its wholly owned subsidiary Lumo Kodit Oy and Varma Mutual Pension Insurance Company have entered into an agreement under which Lumo Kodit will acquire a Finnish housing portfolio owned by Varma. The portfolio consists of 60 residential properties that have combined 4,761 apartments. The properties are located mainly in the capital region. In total, 98 per cent of the property portfolio is located in the attractive Helsinki, Tampere and Turku metropolitan areas.

The debt-free transaction price is approximately EUR 900 million, part of which will be paid in cash and part in new shares to be issued by Kojamo in connection with the closing of the transaction. The financing of the transaction is described later in this release.

Kojamo estimates that the stabilised annual rental income of the housing portfolio is EUR 63.0 million. Stabilised income will be achieved when the occupancy rate of the housing portfolio increases from the current level (83 per cent) to Kojamo's current occupancy rate. Kojamo expects to drive occupancy improvement of the target portfolio by onboarding it to the Lumo brand and lettings platform and applying its leading customer service capabilities. Kojamo anticipates upside potential in the fair value of the portfolio as the occupancy improves. The transaction value represents a stabilised net yield of approximately 4.9 per cent. The transaction is expected to increase the company's FFO per share.

The transaction enhances Kojamo's operational efficiency and improves EPRA Cost Ratio. It demonstrates well the operational leverage that Kojamo as a platform has.

"This transaction presents a unique opportunity for Kojamo to return to growth by acquiring a portfolio of significant size and with a strong alignment with our strategy. The properties are located in prime areas with a strong focus on growth centres, and they are of high quality and in good condition. With this transaction, we are pleased to deliver strong shareholder value through accretion in FFO per share. We welcome Varma's conviction in Kojamo's leading residential asset management platform capabilities and their increased ownership in Kojamo as part of the transaction. We warmly welcome our new customers to Lumo services," CEO Reima Rytsölä states.