Corum AM Buys Retail Asset in Lahti

Finland Finland Renger Investment Management (RIM) is increasing its cooperation with Corum Asset Management and advises in its third purchase in Finland.

2018-01-12

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Corum AM has, on behalf of its fund Corum Convictions SCPI, acquired the old bus station at Jalkarannantie 1 in central Lahti that is undergoing a retail conversion. The asset is now being fully refurbished and will be completed during the spring of 2018. The main tenant is the Finnish retailer Kesko and is let on long leases.
 
David Renger, CEO of RIM comments:

”The cooperation with Corum is expanding further within long let real estate across the Nordics. Having transacted over EUR 110M in four transactions together with investor clients over the past 12 months, RIM is well ahead on building a solid platform for institutional investors wanting to access the Nordic markets.”
 
The property is located next to the city centre of Lahti with car access on the western bypasses of the city. The asset is furthermore strategically located next to the harbour areas, where new residential development is expected during the coming years.
 
“We are pleased to have done our second transaction with SSR group. This is our third investment into the Nordic region having invested around EUR 30M the last few months. We appreciate the sourcing capabilities and the network of RIM that has opened up the Nordic market for us during a short period of time. We have invested around EUR 400M in Europe in 2017 and plan to invest even more in 2018 with high ambitions for the Nordic region”, says Philippe Cervesi, Corum AM, Investment Director.
 
The property is designed in 1939 by Kaarlo Könönen and is a unique building representing the functionalistic era and it is a protected site.
 
 “We are confident that the redevelopment of the old bus station in Lahti will be a welcome addition for the citizens of Lahti to the expansion of the western parts of the city centre. We are furthermore pleased to announce our expanded cooperation with RIM and Corum for our second disposal of our recent developments,” says Arto Kukkonen, CEO of SSR Group.




Maria Olsson Äärlaht
maria@nordicpropertynews.com




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