The 37,392 sq m shopping centre was built in 2009 and is the dominant scheme in the south eastern part of Turku. It is prominently located along the motorway to Helsinki. The two-floored asset comprises 90 retail tenants and has 2,400 free car parking spaces.

The centre is anchored by K-Citymarket, H&M, Stadium and Clas Ohlson and it is over 90 per cent occupied. 

”This is our first entry into the Finnish market for this fund series as we try and benefit from the appealing fundamentals of the local retail market. We have acquired a stable well-performing asset that fits well within the Fund’s portfolio and our investment criteria as it is a dominant shopping centre that delivers a healthy income return. Further, the business plan for the asset targets the reduction of vacancy which will offer some extra upside and income growth over the hold period,” says Florencio Beccar, Fund Manager of ESCF II, CBRE Global Investors.

 “This is the third asset we have acquired in the Nordic region this year illustrating the importance this region to the business and our investors. We are aiming to invest EUR 550 million of capital in the Nordics in 2017 and we have got the year off to a great start,” says Andreas Norberg, Managing Director Nordics, CBRE Global Investors.