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.”

Tags

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2571

    Asset class: Equities.
    Asset region: US.
    Size: $400m.
    Closing date: 2019-11-14.

Begin Your Search Now