UK-based Kenmore has acquired five European properties for a total value of EUR 202 mln. The acquisitions include six office buildings providing 33,221 m[sup]2[/sup] in Oslo, Norway (EUR 52.4 mln), 21 mixed-use assets in the Helsinki Economic area, Finland (EUR 32 mln), a 13,000 m[sup]2[/sup] retail warehouse close to Helsinki (EUR 18.5 mln), two portfolios comprising 17 properties mainly for office use in the Randstad area, the Netherlands (EUR 85 mln), and 12 retail units portfolio in western and southern Sweden (EUR 14.1 mln).

UK-based Kenmore has acquired five European properties for a total value of EUR 202 mln. The acquisitions include six office buildings providing 33,221 m2 in Oslo, Norway (EUR 52.4 mln), 21 mixed-use assets in the Helsinki Economic area, Finland (EUR 32 mln), a 13,000 m2 retail warehouse close to Helsinki (EUR 18.5 mln), two portfolios comprising 17 properties mainly for office use in the Randstad area, the Netherlands (EUR 85 mln), and 12 retail units portfolio in western and southern Sweden (EUR 14.1 mln).

Kenmore's profits in the financial year of 2006 (July 2005-July 2006) reached a record of almost £26 mln (EUR 40 mln), an increase of 124% year-on-year, the company said in a press release. The property group's portfolio has grown 63% in the past year and topped the £1 bn threshold for the first time in 2006, with a total return on shareholder funds amounting to 57%. This marks a 36% increase on last year.

Kenmore has also been active in the UK and has established dedicated teams in Edinburgh and London where it has a development pipeline of two million m2, valued at £650 mln (EUR 987 mln), to be completed in a two-year period.

In the first month of this year, the commercial property firm launched the Kenmore European Industrial Fund (KEIF) on the London stock market, entered Finland with the purchase of the Citycon portfolio and expanded in Germany with the Zweibrucken factory outlet centre.