The transaction is estimated to close during Q4/2021.

“Columbus demonstrates Citycon´s ability to create additional value through active asset management at every stage of the property life cycle. During Citycon´s ownership, Columbus has been transformed to a grocery-anchored urban hub, which has also been reflected in its increase in value. Furthermore, the transaction highlights the attractiveness of high-quality, Nordic real estate assets to investors. Following our recent near-term debt redemptions, we are investigating using some proportion of the proceeds to repurchase shares as given our share price is trading at a significant discount to EPRA NRV,” says F. Scott Ball, Citycon’s CEO.

Citycon´s advisor in the transaction was MREC Oy.