Trevian Asset Management’s two Retail Sector Property Funds, Trevian Retail Fund I and Trevian Retail II, have today sold six retail properties to Sirius Fund II. The properties are located in the Helsinki Metropolitan area as well in other fast growing urban areas in Finland. The properties are currently leased to S Group’s and K Group's retail stores, the largest property being Citymarket Savonlinna.
The transaction price was little over €34m, corresponding to a yield of about 6.0 - 6.5% depending on the location of each property. Trevian’s Retail Funds book a sales gain of more than €10m in the transaction, and hold retail properties for more than €110m after the transaction.
"We are very pleased with today’s transaction with Sirius. The transaction and the very good exit prices we were able to achieve demonstrate again the value of Trevian’s active asset management concept," comments Trevian’s CEO Reima Södervall.
Trevian was advised by Roschier Attorneys in the transaction.
