Cibus Nordic Real Estate has acquired a portfolio of 18 retail assets in Finland. The divestment is made by two real estate funds, managed by Trevian Asset Management Oy, whose investors include Finnish pension insurance companies. The portfolio comprises 31,000m² and consists of grocery-anchored assets leased to S Group, Kesko and Tokmanni. Trevian has been managing and developing this portfolio since 2013. The purchase price was not disclosed.
”We are delighted to have completed the transaction during this exceptional period. Grocery stores have naturally been fully operational during the pandemic. I believe this transaction and other market signals indicate the reactivation of the economy. Both office space and retail property leases are expected to revive as businesses the latest after the summer holiday period. Transactions are also easier to complete when mobility restrictions are reduced”, said Reima Sodervall, CEO of Trevian.
"We have had our eyes on this portfolio for a long time, and the fact that we can do this acquisition during these uncertain times shows the strength of the company", said Sverker Kallgarden, CEO of Cibus.