NREP’s Nordic Retail Fund 2 has acquired an approx. 30,000 m² necessity anchored retail property located in Hämeenlinna, Finland. The fund invested approximately €200 million during 2013 and NREP expects further acquisitions in 2014.
The acquired asset consists of two retail buildings in Tiiriö retail area in Hämeenlinna. Anchor tenants in the asset are Citymarket hypermarket and K-Rauta hardware store, both of which are part of the Kesko group, a Finnish stock listed retail company. NREP acquired the property from Varma Mutual Pension Insurance Company in December, 2013.
“We are pleased to announce this recent acquisition that fits well with our necessity driven retail investment strategy. We believe this investment will deliver strong and stable risk adjusted return to our investors. With this acquisition the fund invested nearly €200 million during 2013 and we will continue investment activities in this segment also during 2014”, says Mikko Räsänen, Partner at NREP.