Agore Kiinteistöt has purchased two Finnish shopping centres (Revontuli in Rovaniemi and Galleria in Lappeenranta) from a fund advised by Barings Real Estate. The properties compromise a total leasable area of approx. 33 500 m². Both centres have been built in 2007. After the acquisition, Agore’s real estate portfolio includes 12 properties with a total value of around €220m.
“We are happy to add Revontuli and Galleria to our portfolio. Their attractive retail offering and key commercial locations enable further development with active local management. Agore wants to offer best city centre locations and to create meeting points for the citizens with interesting stores, restaurants and activities”, said Maria Söderman, Business Director responsible for Agore’s operations.
Agore Kiinteistöt is a real estate investment company established in 2017 and owned by Elo Mutual Pension Insurance Company, Första AP-fonden (AP1) and Trevian Asset Management Oy. The company invests in the major growing cities in Finland primarily outside Helsinki area. Agore’s focus is especially on retail and office assets located in the hearts of the city centers.
