New agreement of the property management between Ovenia and Ilmarinen

Ovenia and Ilmarinen Mutual Pension Insurance Company have signed an agreement on 27th of May, 2008 to cover the management of Ilmarinen´s property portfolios. The term of the agreement commences on the 1^st of January, 2009.  

Ilmarinen owns all together over 4,400 residential apartments and approximately 65 commercial, office, warehouse and other properties. Total floor area of the properties is 860 000 square meters. The agreement is one of the largest ever concluded in the field of property management business in Finland and it covers the overall property management services of Ovenia: property management, financial management and leasing management.
- The new agreement is a remarkable step forward within Ovenia´s own growing development tasks. Naturally we are very pleased to the results of our negotiations. With the housing portfolio of Ilmarinen we strengthen our status in the field of lease of housing premises. The expansion of operations and functions enables us to open customer service office in Helsinki City Center, says Mika Valtonen, the CEO of Ovenia. 

According to Tomi Aimonen, the Property Director of Ilmarinen, they went through the tender competition of management services based on their procurement strategy. All significant companies were included in the tender competition.
- Our decision was especially based on the strong knowledge and know-how of Ovenia in maintenance and development sectors within property management. 

Additional information:
CEO Mika Valtonen, Ovenia Oy
mika.valtonen(a)ovenia.fi, GSM +358 (0)40 726 0006

Property Director Tomi Aimonen, Ilmarinen Mutual Pension Insurance Company
tomi.aimonen(a)ilmarinen.fi, GSM +358 (0)50 366 7501

Ovenia Oy
Ovenia Oy provides property management services. The company concentrates on operative portfolio management, including property management, financial management, and leasing services. In Finland, Ovenia administers a large number of portfolios with a total area of more than 5,7 million square metres. In 2007, Ovenia’s turnover exceeded 8,3 million euros. Ovenia employs roughly 95 professionals with offices in Helsinki, Tampere, Turku, Lahti, Jyväskylä, Oulu, Kuopio and Vaasa. www.ovenia.fi

Ilmarinen Mutual Pension Insurance Company
Ilmarinen is a mutual pension insurance company which specializes in earnings-related pension insurance. The value of its property investments is about EUR 2.2 billion and they total 860 000 square metres in area. Ilmarinen’s property investments cover over 4,400 dwellings and about 65 commercial, office, warehouse and other properties. A significant number of the company properties are located in the metropolitan area and in key locations in other growth centres. www.ilmarinen.fi