Key-player leaves Citycon

Nordic — Bids farewell to the company after nearly six years.

Citycon divests Kongssenteret in Norway

Norway Norway — Citycon has signed an agreement to sell Kongssenteret in Kongsvinger, Norway. The sales price is close to the latest IFRS fair value of the asset. The transaction is estimated to close by the end of May.

Henrica Ginström appointed new CEO of Citycon: "Our strategy is a winning concept"

Nordic — Citycon gets a new CEO when Henrica Ginström, the company's current COO, takes the helm in April. She gives her view of taking over as CEO, how she is as a leader, what will be most important for Citycon in 2024 and how she sees the retail market going forward.

Citycon becomes the sole owner of Kista Galleria

Sweden Sweden — Citycon is in the final stages of taking over the remaining share (50 percent) in Kista Galleria in Stockholm. The acquisition was announced in connection with the company's annual accounts. The Canadian company CPP Investments sells its share and thereby owns 100 percent of Citycon Kista Galleria.

Citycon's CFO resigns

Finland Finland — Citycon has announced an orderly transition of its Chief Financial Officer position to take place in early 2024. Bret D. McLeod, current Chief Financial Officer of Citycon, has announced his intention to resign from his position effective January 31, 2024, to pursue another opportunity back in his native United States.

Citycon signs green 7-year term loan

Finland Finland — Citycon has signed a SEK 1,020 million (approx. EUR 89.5 million) fixed rate green term loan with pbb Deutsche Pfandbriefbank (pbb) and Helaba.

Citycon to receive major land assignment

Sweden Sweden — The project is being re-directed from the original idea of a school to nearly 500 homes with mixed forms of tenure. Nordic Property News reveals more about Citycon's plans in one of Stockholm's biggest focus areas.

Citycon Sells Two Shopping Centres

Norway Norway — Citycon has signed an agreement to sell two non-core shopping centres in Norway for approximately NOK 1250 million (approximately EUR 120.8 million).

Citycon Signs Four Leases with LPP

Finland Finland — Citycon has signed four lease agreements with LPP – new fashion stores to open in three centres.

“Market Conditions Are Good for Speciality Leasing"

Nordic — Citycon strengthens its leasing with the appointment of Salla Suonperä as Director of Specialty Leasing Nordic. She tells Nordic Proeprty News about her new role, the state of Citycon’s leasing operations and the difference between the various Nordic markets.

Citycon Appoints Director of Specialty Leasing Nordic

Nordic — Citycon has appointed Salla Suonperä as director of Specialty Leasing Nordic. Salla will be responsible for developing the opportunities in specialty leasing on a Nordic level within Citycon and contributing to growth in terms of tenants in all centers in the Nordics and the Baltics.

VP Leasing at Citycon Elected New Chairman of NCSC

Nordic — At the AGM on 9 June 2022, Jussi Vyyryläinen, Vice President Leasing at Citycon, was elected new Chairman of the Board. He succeeds Trond Herberg, Chairman between 2018-2022.

Citycon’s CEO on the Future on the Stock Market: “Status Quo”

Finland Finland — F. Scott Ball, CEO of Citycon, on the increased holding from the major shareholder Gazit-Globe, whether the company will leave the stock market, and the ongoing strategy.

Citycon Acquires Residential Asset and Divests Shopping Centres

Nordic — Citycon has signed a forward commitment agreement with Botrygg to acquire a newly developed residential asset in Stockholm for approximately EUR 69.5 million. The company has also signed an agreement to opportunistically sell two non-core shopping centres in Norway for approximately EUR 145.4 million.

“There’s Still a Lot to Do in the Centre”

Finland Finland — The retail centre Lippulaiva will open at the end of March. Nordic Property News asks Mari Laaksonen, Commercial Director of Citycon, on the current status, the struggles during the pandemic, and what will make this retail centre unique.

Citycon Launches a New Stock Option Plan

Finland Finland — The Board of Directors of Citycon Oyj has resolved to launch a new stock option plan directed to the Chief Executive Officer F. Scott Ball.

Citycon to Develop Shopping Center in Bergen

Norway Norway — Citycon will develop Oasen in Bergen into a modern mixed-use centre that includes residentials, offices, public health services and retail. Citycon develops Oasen in collaboration with the municipality as the zoning plan now is subject to political review.

Citycon’s CEO F. Scott Ball: ”The New Strategy Isn’t a Conversion”

Nordic — In an exclusive interview with Nordic Property News, Citycon’s CEO F. Scott Ball tells how the modern and urban shopping centre Lippulaiva will set an example of Citycon’s future focus, the shift in the company’s strategic focus, why they were able to thrive in some aspects during the pandemic from a business perspective, the impact long time friend CFO Eero Sihvonen retiring this year and the selection of his successor Bret D. McLeod.

The Retail Comeback: “Nearly Back to Pre Covid-Levels”

Finland Finland — Citycon’s CEO F. Scott Ball on the Q3 results, which categories that have bounced back thanks to lifted restrictions, and the footfall recovery around their retail centres.

NREP Acquires Retail Centre from Citycon

Finland Finland — Citycon has signed an agreement to sell a necessity-based retail centre Columbus located in Helsinki, to NREP. The gross purchase price amounts to approximately EUR 106.2 million, which corresponds to Q3/2021 valuation, but is approximately 10 MEUR above the Q4/2020 valuation.

F. Scott Ball Continues as Citycon CEO Until 14 January 2025

Finland Finland — The Board of Directors and the CEO of Citycon Oyj, F. Scott Ball, have agreed that Ball will continue as the CEO of the company until 14.1.2025. Mr Ball´s appointment as the CEO commenced on 1 January 2019 and Ball’s current service contract was due as of 14 November 2021.

Continued Progress in Citycon’s Portfolio Transformation

Finland Finland — F. Scott Ball, CEO of Citycon, on the Q2 figures, the residential focus for the listed property owner, and how they will accelerate the growth of the residential portfolio.

"The Nordics Provide a Unique Balance of Yield and Stability"

Nordic — Citycon strengthens their team with a new important piece as Bret D. McLeod takes the position of CFO. He tells Nordic Property News what attracted him about Citycon, about joining a Nordic company and about his view of the Nordic property markets.

Citycon Appoints CFO from the US

Finland Finland — Bret D. McLeod has been appointed Citycon Oyj’s Chief Financial Officer and member of the Corporate Management Committee following the planned retirement of the current CFO, Eero Sihvonen.

How Citycon Will Benefit on the Nordic Transaction Market

Finland Finland — Citycon’s CEO F. Scott Ball on another strong quarter for the retail property owner; the diversification strategy, and why the rent collection has decreased in the first quarter of 2021: “Still best-in-class.”