Amplion, the strategic advisor for the 'Temple portfolio' managed by AEW Europe and Tristan Capital Partners, has signed a long-term lease contract with Turun Osuuskauppa in the former Euromarket property in the Länsikeskus area in Turku. Euromarket closed down its operations in Länsikeskus in summer 2011.
The leasable area of the premises is 13,773 m². Turun Osuuskauppa will open a new Prisma hypermarket in the premises on March 1, 2012.
Merrick Marshall, Executive Director of AEW Europe, said: "This lease agreement diversifies Temple portfolio's tenant mixture and increases the value too. We are satisfied in Amplion's capacity to actively manage the portfolio and to find new letting solutions."
Rui Tereso, Head of Portfolio and Asset Management at Tristan Capital Partners said: "The rapid leasing of this property demonstrates the attractiveness and quality of the EPI fund Temple Portfolio assets for major retailing tenants."
"The opening of major hypermarket chain Prisma strengthens the future development of the retail submarket of Turku Länsikeskus," said Amplion's Deputy Managing Director Reima Södervall.
The Temple portfolio comprises 259 retail properties across Finland, mainly leased to Suomen Lähikauppa Oy (SLK). The European Property Investors fund, managed by AEW Europe and Tristan Capital Partners, purchased the portfolio from Tradeka (now SLK) in a sale and leaseback transaction in 2006. Amplion started as strategic advisor for the portfolio in summer 2011.
Source: Amplion Asset Management Oy