Swedish real estate private equity firm Niam has purchased the Kaari shopping centre and five freehold plots around the shopping centre. The transaction is scheduled to close on 15th October 2015. JLL acted as advisor to HOK-Elanto on the transaction.
In addition, HOK-Elanto has simultaneously signed long-term lease agreements for the units they currently occupy in Kaari.
Located in the Kannelmäki district of Helsinki, Kaari is the ninth largest shopping centre in Finland boasting a total lettable area of 48,700 m². Over 900,000 people live within just 15 minutes’ drive to the shopping centre which attracts in the region of 5.3 million visitors every year. The annual sales of the shopping centre reached €178 mln in 2014.
Matti Niemi, CEO of HOK-Elanto said: “The population of the Helsinki Metropolitan Area is rapidly increasing and it is our goal to serve the customers and owners of HOK-Elanto by developing our retail premises and growing our portfolio. We will continue to focus on acquiring and occupying strategic locations with optimal unit sizes and creating modern retail premises. This transaction secures the financing of our future growth plans.
Source: JLL
