Nrep sells Finnish hypermarket to real estate investor Cibus
Hyrylä retail and service centre
Urban Partners’ real estate investment arm Nrep, through its NSF IV fund, has sold the Prisma hypermarket in Hyrylä, Finland, to international real estate investor Cibus, which specialises in daily goods properties. The asset is currently under construction, with completion scheduled for 2026. The Prisma unit is part of a larger retail and service complex being delivered by Nrep in Tuusula, which will reinvigorate the centre of Hyrylä through bringing together municipal and commercial services.
Nrep, part of Urban Partners, the leading Nordic urban developer and investor, has sold the Prisma hypermarket located in Tuusula, to the international real estate investor Cibus. The Prisma store, currently under construction, is scheduled to be completed in 2026 as part of a larger retail and service scheme that will transform both the aesthetic and service offering of the centre of Hyrylä.
The new Tuusula city hall will also be built alongside the Prisma scheme, bringing the municipality’s services together under one roof. The city hall will include workspaces for municipal employees as well as a large youth centre. Nrep will remain owner of the city hall and is responsible for the development of the entire retail and service centre through to completion.
The new retail and service centre in Hyrylä has been designed in close collaboration with the municipality of Tuusula, with the goal of bringing community services closer to local residents. The new hybrid building boldly combines public and commercial functions, and its striking architecture will stand out as a new landmark in the heart of Hyrylä.
“The development of Hyrylä is an opportunity for us to create a sustainable, functional and more vibrant environment for the people of Tuusula. We are pleased to be realizing this vision together with the municipality of Tuusula, and now also with Cibus,” says Joonas Lemström, Country Director at Nrep.
A retail property transaction rarely seen in Finland
This is a significant real estate deal, as hypermarket properties in prime locations rarely changed hands in Finland. A comparable transaction took place in 2020, when the Itäkeskus Prisma in Helsinki changed ownership.
A substantial portion of the new Prisma’s energy needs will be covered by renewable energy sources, such as waste heat recovery and solar power. The construction will utilize durable and long-lasting materials, and the goal is to obtain the internationally recognized LEED Platinum environmental certification for sustainable construction.
“This transaction demonstrates that there is strong demand among investors for high-quality, sustainable convenience retail properties in strong locations. At Nrep, we want to help cities and municipalities grow their vitality, and we are confident that the completed retail and service center will significantly enhance the appeal of Hyrylä’s town center,” Lemström continues.