Barings invests €30.4m in Finnish shopping centre
Barings Real Estate Advisers has bought a Finnish shopping centre from CapMan.
The 9.754sqm Entresse in Espoo was bought for €30.4m for Barings’ pan-European value-add strategy.
Barings said it plans to invest in the shopping centre and to improve occupancy, which is currently at 82%.
Göran Bengtsson, managing director and head of the Nordics, said: “Espoo is Finland’s second largest city and with long-term population growth outperforming the national average and the increasing appeal of the area as one of Helsinki´s leading suburban locations, further growth is expected.
“These demographic changes, combined with the high build quality of Entresse, its close proximity to public transport and plans for further development of the area, made it a very compelling acquisition opportunity.”