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Nordic Update

Citycon sells Rovaniemi shopping centre to Trevian AIFM

Publicerad: 30 november 2018, 18:29

Photo: Citycon.

Finnish listed property company Citycon has sold a shopping centre in Rovaniemi to a fund managed by Trevian AIFM. The shopping centre, Sampokeskus, was sold for approximately 16 million EUR, which is close to the latest valuation of the property.

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“The divestment of Sampokeskus is a natural step in our strategy to refine our Nordic portfolio and focus on larger grocery-anchored shopping centres in urban crosspoints. We will use the proceeds from the divestment to strengthen our balance sheet and to fund our development pipeline,” Tom Lisiecki, Chief Development Officer at Citycon, comments in a press release.

The deal was closed on November 30th.

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