Established Icelandic asset management company whose role is to manage clients’ assets with their best interests as the guiding principle.
Co-investment makes it easier to buy a home or move to a larger one. A fund under Stefnir’s co-investment solution temporarily acquires a share in the property alongside you.
You can choose from a wide selection of new homes offered by our partner developers.
If you have any questions, please contact Aparta Iceland, Stefnir’s service provider is responsible for communication during the contract period.
You want to buy a home but need additional financing to bridge the gap.
You are taking your first steps onto the property market.
You want a more flexible way to invest in your own home.
You want to reduce risk when buying property by sharing exposure to price changes.
You want to move to a larger home.
Co-investment is made possible through collaboration between Stefnir, Aparta, and multiple developers, each with a distinct role in the solution.
Stefnir hf., a subsidiary of Arion Bank and supervised by the Central Bank of Iceland, establishes a fund in the form of a limited partnership and manages its operations. The fund acquires a share in the property. Prior to the purchase, both a co-ownership agreement and a lease agreement are entered into between the owners of the property.
Aparta Iceland ehf. provides services to both the homeowners and the fund during the co-ownership period. This includes, among other things, assistance with the sale process when applicable and communication with homeowners who wish to buy back the fund’s share in the property. Maintenance matters may also arise and require review and decision-making, and this work is handled by Aparta Iceland.
Developers offering the co-investment solution initially become investors in the fund, thereby financing the fund’s purchase of a share in the property. Through their participation, the developer both builds the property and retains partial ownership alongside the buyer. This demonstrates the developer’s confidence in long-term residential investment and their commitment to the quality of the properties they have built. A wide range of properties is available across the capital area.
Stefnir partners with developers offering a wide range of new homes across the capital area.
Once you find a property that suits your needs, contact the real estate agent for more information.
Explore the available properties.
With assistance from a real estate agent, an offer is made on the property. The fund submits a joint offer with you for up to a 25% share.
At the same time, a co-ownership agreement and a lease agreement are entered into, setting out the rights, obligations, and lease payments. It is important to review these agreements carefully before proceeding.
If the offer is accepted, the process continues with a credit assessment and financing through a commercial bank or a pension fund, depending on the buyer’s choice.
Once the credit assessment has been approved and financing secured, a purchase agreement is prepared by the real estate agent.
The agreement is then signed, and you, as the buyer, become a co-owner of the property alongside the fund. You have full control over the property and pay monthly rent for the fund’s share.
Instead of investing in 100% of the property’s value, the buyer can purchase a 75–80% share, with the fund holding a 20–25% stake, thereby reducing exposure to future changes in housing prices.
The property is delivered on the agreed date, and the title deed is issued once all payments have been made to the developer, in coordination with the real estate agent.
You can then enjoy your new home with the support of Stefnir Co-investment.
Lower initial leverage – The co-investment solution reduces the need for high leverage at the outset.
Full right of use –You live in the property as if it were entirely your own. The buyer pays monthly rent on the fund’s share, based on the market rent of the property as a whole. The rent is indexed, as is common with long-term lease agreements.
Flexibility –You have the option to buy back the fund’s share over time. Each buyback must be at least 5% of the fund’s ownership.
Less risk – Instead of purchasing 100% of the property, the buyer acquires a 75–80% share, with the fund holding the remainder. The buyer finances their share with a minimum 10% equity contribution and the rest through a loan. This allows access to suitable housing and may help move off the rental market. The buyer also benefits from potential future changes in property values.
Settlement at the end of the co-ownership period –The co-ownership agreement is typically set for 10 years. The buyer may exercise their purchase option at any time by providing written notice no later than 10 years from the start date.
The agreement may be extended in increments of up to 5 years, for a maximum total term of 20 years.
If the buyer does not purchase the fund’s share during the term or chooses not to extend the agreement, the property is expected to be sold on the market. The buyer, however, has a right of first refusal on the fund’s share.
The ÞG fund invests in residential properties developed by ÞG Verktakar in Baughamar, Hafnarfjörður. Explore the available properties on the fund’s website.
Kauplykill invests in residential properties owned by Skuggi byggingarfélag in Baughamar and Áshamar in Hafnarfjörður. Explore the available properties on the fund’s website.
REIR20 invests in residential properties owned by REIR Verk in Þorraholt and Stefnisvogur. Explore the available properties on the fund’s website.
SAFÍR20 invests in residential properties owned by SAFÍR byggingar in the Orkureitur development in Laugardalur. Explore the available properties on the fund’s website.
Öxar20 invests in residential properties owned by Öxar byggingafélag on Kleppasmýrarvegur and in Grásteinsmýri. Explore the available properties on the fund’s website.
Umbra20 invests in residential properties owned by Umbra byggingarfélag at Eirhöfði and Víðiholt. Explore the available properties on the fund’s website.
Skjólfesta invests in residential properties owned by Varmárbyggð in Áshamar, Hafnarfjörður. Explore the available properties on the fund’s website.
Fasteignabrú invests in residential properties owned by Fasteignafélagið G1 on Grensásvegur in Laugardalur. Explore the available properties on the fund’s website.
UTS20 invests in residential properties owned by UTS Fasteignir in Baughamar, Hafnarfjörður.
If you have any questions, we recommend contacting the developer’s real estate agent or Aparta Iceland, Stefnir’s service provider, which handles communication during the contract period. You can contact Aparta Iceland via aparta.is.