A consortium of investors led by private equity firm Niam has sold the Pasaati shopping centre in Finland to Kauppakeskuskiinteistot FEA, a fund managed by Aberdeen Property Investors Finland. The shopping mall was 30%-owned by Niam, with the remaining stake held by Goldman Sachs' Whitehall Real Estate Funds, Etera Mutual Pension Insurance Company and Apteekkien Eläkekassa.
A consortium of investors led by private equity firm Niam has sold the Pasaati shopping centre in Finland to Kauppakeskuskiinteistot FEA, a fund managed by Aberdeen Property Investors Finland. The shopping mall was 30%-owned by Niam, with the remaining stake held by Goldman Sachs' Whitehall Real Estate Funds, Etera Mutual Pension Insurance Company and Apteekkien Eläkekassa.
The property was part of the Sisu commercial portfolio acquired by Niam Fund III and Whitehall Real Estate Funds in a joint venture in 2007. It is the biggest shopping centre in the southeast part of Finland and is located in the centre of the city Kotka. The asset comprises almost 30,000 m2 of lettable area.
Johan Bergman, managing director of Niam, said: 'We are very satisfied with the results of this sale in a constantly changing market. We continue to closely follow the market and execute on transactions that we believe in.'
Newsec acted as adviser for the sellers in the transaction.
