NREP Nordic Strategies Fund I acquires three Finnish retail assets from Foreningen european retail
NREP Nordic Strategies Fund I, a fund managed by Nordic Real Estate Partners (NREP), has today acquired a retail portfolio from Foreningen european retail, a real estate fund based in Denmark.
The portfolio contains three assets in Finland, located in Hyvinkää, Salo and Tampere. The asset in Hyvinkää is part of the Willa shopping center and is occupied by the department store chain Anttila. Willa is the dominant retail location in Hyvinkää. The asset in Salo is the centrally located Citymarket hypermarket. The asset in Tampere comprises of two adjacent properties in the center of Lielahti retail park, occupied by Tokmanni and Stadium. Lielahti is one of the largest retail parks in Finland. NREP plans to develop the properties further in the coming years. Total property value is approximately 24 million euros.
NREP Nordic Strategies Fund I invests predominantly in retail, logistics and residential properties in the Nordic region. The fund is backed by leading Nordic and international institutional investors and has invested and committed over 700 million euros since inception in May 2014.