CBRE Global Investors has sold the Megahertsi Shopping Centre in Herttoniemi, Helsinki to eQ Finnish Real Estate, a Special Investment Fund.
Megahertsi is located in the established residential area in Herttoniemi, which is located six km east from the Helsinki centre, close to the Herttoniemi metro station. Megahertsi is anchored by Tokmanni, which is the Nordics’ largest discount retailer. The leasable area is approximately 6,700m2.
Future development planned for the property will connect the centre to the adjacent Hertsi development project by YIT and Hartela to form one larger centre. The 20,000m2 retail extension and three housing towers are scheduled to be completed in 2018.
Menno Verhoeff, head of transactions Nordics at CBRE Global Investors, said: “The sale of this shopping centre is aligned with our strategy, and given the successful re-anchoring of the centre, we sense it is the right moment to exit. We will continue to invest actively in Finland strengthening our portfolio base in this country.”
Samuel Granvik, investment director at eQ Asset Management Limited said: “Megahertsi Shopping Centre in Helsinki matches perfectly with our strategy to invest in modern quality properties in established commercial locations with good accessibility and with strong brands. The main tenants, Tokmanni, Alko, SATS and the pharmacy, form a solid foundation for the future development of the shopping centre.”
CBRE Finland Oy advised the seller with Castrén & Snellman Attorneys Limited providing legal advice. Hannes Snellman Attorneys Ltd acted as legal advisor for the buyer.
