Credit: Trevian Finland Properties I
Ticker

Trevian Finland Properties I has made a significant acquisition in Oulu

The company has bought majority of the Kauppakortteli Pekuri city block in Oulu, Finland

The acquired entity was completed in 1947 and 1963 and it comprises over 17,000 sq m of leasable area. Premises are currently leased to 30 tenants, including K-Supermarket, Alko and Kappahl. There is plenty of underground parking space.

“There is a lack of modern, high quality office space in the Oulu city center”, said Fund Manager Amalia Pöyry from Trevian Funds AIFM. “Since Stockmann department store left Oulu in 2017, the property has suffered from significant under-utilisation, but its location is the best possible. We believe that with the right investments and active local asset management, we will be able to create a very functional selection of office, retail, restaurants and cafés. As a long-term domestic investor, we want to make our contribution for the regeneration and development of the city center of Oulu and cooperate closely with essential parties such as City of Oulu, BusinessOulu and Oulun Liikekeskus ry association”, Fund Manager Pöyry commented.

With 204,000 inhabitants, Oulu is the most populous city in Northern Finland and the fifth most populous in the country. Over the recent years, it has enjoyed population growth, improving employment and a vibrant start-up scene, especially within information technology.

The acquisition is the fund’s second purchase in Oulu. In April it acquired a 6,210 sq m retail property with Delta Auto Oy as tenant with a long lease.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Revcap sells six Metro stores to MiDEAL Real Estate Funds

Revcap has sold six Metro stores with a total leasable area of ca. 130,000 sq m to Israeli fund manager MiDEAL Real Estate Funds.

CBRE sells BIG Shopping Park in Copenhagen to M&G

CBRE Investment Management, on behalf of the European Co-Investment Fund (ECF), has sold BIG Shopping Park in Copenhagen, owned in a joint venture with Portus Retail Partners to M&G Real Estate–part of M&G plc’s £65 billion private assets and alternatives business. The sale represents one of the largest European single-asset retail transactions.

Trei borrows another €27.5 Million for Retail Parks in Poland

Trei Real Estate borrowed €27.5 million in its first financing arrangement with the Polish bank Pekao. Collateral for the loan was provided in the form of seven Vendo Parks in Poland, all of which were completed during the past twelve months.

MPC Properties buys Delta City shopping center in Belgrade

MPC Properties acquired Delta City shopping center (open since 2007), expanding its portfolio to five regional retail assets with the latest, BEO Shopping Center opening in June 2020.

Mixed-use tower Timber Pioneer in Frankfurt receives building permits

The construction of the project developed by UBM Development and Paulus Immobilien is entering the implementation phase.

Newsec recruits Patrik Attemark as new CEO

Newsec will gather their present operations in seven countries under a single organization, led by Patrik Attemark who has been recruited as new CEO as of December.