Agore Kiinteistöt, the joint venture between Finnish asset manager Trevian, Swedish national pension fund Första AP-fonden and Finnish pension fund Elo Mutual, has acquired two shopping centres in Finland.
Financial details were not disclosed, but Trevian said that the deal brought Agore's portfolio to 12 assets worth €220 mln.
“We are happy to add Revontuli and Galleria to our portfolio,' said Maria Söderman, business director at Agore.
Revontuli in Rovaniemi (pictured) and Galleria in Lappeenranta comprise a total leasable area of around 33,500 m2. Both centres were built in 2007.
'The centres are modern and their attractive retail brands and key commercial locations enable further development with active local management. Agore wants to offer the best city centre locations and to create comfortable livingrooms and meeting points for the citizens with interesting stores, restaurants and activities,' Söderman added.
Established in 2017, Agore Kiinteistöt invests in the major growing cities in Finland primarily outside Helsinki. Agore focuses on retail and office assets in city centres, and has a target portfolio size of more than €400 mln.
