Swedish real estate private equity firm Niam has purchased the Kaari shopping centre in Helsinki and adjacent development plots from Finnish cooperative Group HOK-Elanto.
Swedish real estate private equity firm Niam has purchased the Kaari shopping centre in Helsinki and adjacent development plots from Finnish cooperative Group HOK-Elanto.
Financial details were not disclosed.
HOK-Elanto, which was advised by JLL on the deal, has also signed long-term lease agreements for the units they currently occupy in the shopping mall.
Located in the Kannelmäki district of Helsinki, Kaari is the ninth largest shopping centre in Finland boasting a total lettable area of 48,700 m2. The scheme generated annual sales of €178 mln in 2014.
The transaction is the first sale of a major Helsinki shopping centre in its entirety since 2008, said Christian Hohenthal, head of Capital Markets JLL Finland.
Krogerus Attorneys acted as legal advisor to HOK-Elanto.
