Wereldhave sells Finnish department store for EUR 45m

By A staff reporter 2011-11-07T00:00:00+00:00

Dutch listed real estate company Wereldhave has sold a Stockmann department store in the Tapiola area of Espoo, Finland, to Tapiola KR III fund. The transaction price was EUR 45 mln, well above the book value.

Dutch listed real estate company Wereldhave has sold a Stockmann department store in the Tapiola area of Espoo, Finland, to Tapiola KR III fund. The transaction price was EUR 45 mln, well above the book value.

The property comprises 11,500 m² of retail space and will be completely redeveloped to offer a new scheme in the prime shopping area of Tapiola.