Citycon Sells Stockholm Shopping Center to Artmax

Sweden Sweden — Citycon has entered a deal with Artmax regarding the divestment of the Åkermyntan shopping center in Stockholm. Furthermore, Citycon has developed and sold adjacent construction rights of approximately 7,000 square meter apartment buildings to a property developer.

"Enormous Potential in Sweden"

Nordic — Citycon's Head of Leasing tells Nordic Property News of the plans for 2018, the difference between Sweden and Finland, and how shopping centers can cope with growing e-commerce.

Largest Finnish Transactions in 2017

Finland Finland — 2017 was an intense transaction year for all the Nordic countries. With the year in the books Nordic Property News can present a list of the largest transactions in all four countries - today we look east to Finland.

Citycon Acquires Part of Shopping Centre

Denmark Denmark — Citycon has acquired the second and the largest part of the shopping centre Straedet in Køge in the greater Copenhagen area for approximately EUR 60M.

Klövern and Citycon to Develop Globen Shopping

Sweden Sweden — Klövern and Citycon have signed a letter of intent for joint development of the shopping centre Globen Shopping, located just south of Stockholm's inner city.

Citycon divests in Finland for EUR 167M

Finland Finland — Citycon and Cerberus announce that they have signed an agreement whereby Citycon will divest its shopping centres Espoontori, Tikkuri, Myllypuron Ostari, Martinlaakson Ostari and Jyväskylän Forum to an affiliate of Cerberus for a total value of approximately EUR 167M.

Citycon Sells Lade in Trondheim

Norway Norway — Citycon has signed an agreement to sell the non-core retail property Lade at the outskirts of Trondheim to Frost Holding AS. The purchase price amounts to approximately EUR 21 million (NOK 183 million), which is in line with the assets IFRS fair value.

Citycon Sells a Non-Core Property in Umeå

Sweden Sweden — Citycon has signed an agreement to sell its share in the retail property Länken in Umeå to a Swedish real estate company. Citycon’s proceeds from the transaction are approximately EUR 24 million and subject to closing adjustments related to the ongoing (re)development in the property.

Citycon Buys Office Building in Bergen

Norway Norway — Citycon has signed an agreement to acquire an office building in Bergen for EUR 78M from Tryg Forsikring A/S.

First Dudesons Activity Park in Helsinki

Finland Finland — The first Dudesons Activity Park in the Helsinki Metropolitan Area will open in the Iso Omena shopping centre in autumn 2017. The other two Dudesons Activity Parks in Finland are located in Seinäjoki, Western Finland and Tornio-Haaparanta, Northern Finland.

Citycon Group Successfully Places €350M Eurobond

Finland Finland — Citycon Group has successfully placed a EUR 350 million Eurobond. The issuer of the Bond is Citycon Treasury B.V. and the guarantor is Citycon Oyj. The ten-year guaranteed euro-denominated Bond matures on 8 September 2026 and carries fixed annual interest at the rate of 1.25 percent, payable annually on 8 September.

The First Phase of Citycon’s Iso Omena Extension Now Open

Finland Finland — The first phase of the extension of the Iso Omena shopping centre located in Matinkylä, in the Helsinki area, has opened. The newly opened area contains 27,000 sqm of new gross leasable area (GLA).

NCC Sells Share of Finnish Project Company to Citycon

Finland Finland — NCC has sold its share of the Matinkylä Shopping Center project in Espoo, Finland, to its business partner Citycon. The purchase price for NCC’s portion of the jointly owned project company is approximately SEK 750 M (€79 M).

EQ Acquires Properties for €74 million

Finland Finland — Special Investment Fund eQ Finnish Real Estate has acquired five properties from Citycon Oyj for a total value of approximately € 74 M.

Citycon Completes Refinancing

Norway Norway — Citycon Norway AS has completed the refinancing of Sektor Gruppens existing debt by signing a local secured bank loan of NOK 1.3 billion (approx. € 140 M) with Skandinaviska Enskilda Banken and Danske Bank.

Citycon Appoints New Vice President

Finland Finland — Marianne M Håkonsen has been appointed Citycon Oyjs Vice President, Marketing and Branding and member of the Corporate Management Committee.

Citycon to Acquire the Minority Shares in Shopping centres in Norway

Norway Norway — Citycon has agreed to acquire the 31% minority stakes in Storbyen and Sjøsiden shopping centres in the Oslo region and Oasen shopping centre in Bergen for an equity consideration of approximately € 31 M.

Citycon’s IsoKristiina Celebrates Grand Opening

Finland Finland — The major development and extension of the IsoKristiina shopping centre in the heart of Lappeenranta in Finland is now completed. The project, which lasted about two and a half years, saw the old section of IsoKristiina completely refurbished, the shopping centre extended, and the adjacent Hotel Lappee connected to the centre.

Groundbreaking for Mölndal Galleria and the new City Centre

Sweden Sweden — The groundbreaking for the new Mölndal Galleria and the transformation of Mölndal’s city centre took place 27 August in a ceremony held on the construction site. The event was jointly organised by Citycon, NCC, Riksbyggen and MölndalsBostäder, the four companies investing in the renewal of Mölndal city centre.

Citycon Sells Shopping Centre Strömpilen in Umeå

Sweden Sweden — Citycon has signed an agreement to sell the shopping centre Strömpilen in Umeå to Niam.

Eirik Thrygg to Leave Citycon

Norway Norway — Eirik Thrygg, member of Citycon’s Corporate Management Committee, is leaving the company for a position as CEO at Höegh Eiendom.

Citycon Divests a Non-core Portfolio in Finland for € 76 M

Finland Finland — Citycon has entered into an agreement to sell a 60,000 sqm portfolio of 13 grocery store properties located across Finland to a Finnish property fund for a total value of approximately €76 M.

Citycon to Start the Development of Mölndal Galleria in Gothenburg

Sweden Sweden — Citycon and NCC take the next step with the development of the new shopping centre Mölndal Galleria. The investment project will begin its construction phase in August now that the zoning has gained legal force.

Hemsö Expands Portfolio in Finland

Finland Finland — Swedish company Hemsö is purchasing a school currently under construction in Pori, Finland, for €56.5M. Hemsö already owns 17 properties in Finland.

Citycon Sells Two Properties in Finland and Sweden

Finland Finland — Citycon has entered into contracts to divest two properties located in Tikkurila in Vantaa and Kallhäll in Stockholm. The total sales price for the two properties is around € 14 M.