Redevco's Finnish unit has acquired a high-street retail property in Oulu from Oulun Osuuspankki, a unit of the OP-Pohjola Group of independent co-operative banks, for almost EUR 19mln.
Redevco's Finnish unit has acquired a high-street retail property in Oulu from Oulun Osuuspankki, a unit of the OP-Pohjola Group of independent co-operative banks, for almost EUR 19mln.
The Pekurinkulma property - Redevco's second investment in Oulu, is located in the city's most prominent retail location, on the corner of two prime pedestrian streets Kirkkokatu and Kauppurienkatu, Redevco said in a statement on Friday. The building dates back to 1910 and was extended in 1991 to provide a total of 4,000 m2 of retail space, which is mostly let to retailer Stockmann. Other tenants include McDonald's and Vila Fashion Store.
In October 2007 Redevco acquired a retail warehouse located in the developing retail park Limingantulli of Oulu.
