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.

AXA Acquires Four Residential Properties from Local Tapiola

Finland Finland — Local Tapiola General Mutual Insurance Company has sold a portfolio of four residential properties with a total of 119 apartments and a lettable area of 6,648 sq m to AXA IM.

Triuva Acquires Office Building in Stockholm

Sweden Sweden — Pan-European institutional real estate investment manager Triuva has acquired a 6,700 sqm office building, Lammet 17, in central Stockholm from Slussgården, a subsidiary of SKL Fastigheter and Service AB.

Svenska Handelsfastigheter Purchases for Half a Billion from Standard Life

Sweden Sweden — Svenska Handelsfastigheter acquires a portfolio of seven retail properties for a purchase price of EUR 54M, from Standard Life Investment European Property Growth Fund, EPGF.

Blackstone and Areim Makes Billion Euro Bid

Finland Finland — Blackstone Group and Areim has made a EUR 1.76bn bid for the Finnish company Sponda.

Pradera Closes Large Deal with Ikea

Nordic — Pradera has announced the first closing of the Pradera European Retail Parks SCSp, a Luxembourg fund. In a EUR 900M transaction agreed with Ikea Centres, the fund has signed a contract to acquire 25 prime retail parks next to Ikea stores in eight European countries.

Major Office Transaction in Espoo

Finland Finland — Commerz Real has sold the Life Science Center Keilaniemi office property in Espoo, Finland, to Nordic private equity investor Niam.

World Class French Fashion House to Stockholm

Sweden Sweden — The world famous French fashion house Céline opens a store in Bibliotekstan in Stockholm.

CapMan Divests Office Building in Northern Stockholm

Sweden Sweden — CapMan Nordic Real Estate fund sells the office building Apelsinen 4 in Solna Strand, Northern Stockholm to the property company Humlegården.

Largest Ever Healthcare Transaction in Finland

Finland Finland — Northern Horizon has sold its Healthcare I fund’s entire care home portfolio to a fund managed by eQ. The 27-asset portfolio was sold for €155 million.

JLL: The Nordics Top the European Real Estate Market Transaction Table in 2015

Nordic — Real estate outperformed other asset classes in 2015 as record investment in the US helped to drive strong global transaction volumes throughout the year, according to new preliminary figures from JLL. In Europe, Germany and the Nordics enjoyed a standout 2015 with almost 30 percent growth year-on-year.

Stena and Ikano Purchases in Gothenburg

Sweden Sweden — Stena Fastigheter and Ikano Bostad purchases Pripps’ former brewery area in Högsbo, Gothenburg, from Catena for MSEK 580 (€62M).

Niam Acquires Shopping Center in Helsinki

Finland Finland — HOK-Elanto sells Kaari shopping centre to Niam in the first 100 % sale of a major shopping centre in Helsinki since 2008. The Kaari center is Helsinki’s fifth largest shopping center with a total lettable area of 48,000 sqm.

Kungsleden Expands in Kista

Sweden Sweden — Kungsleden acquires the office property Electra Building (Keflavik 1) in Kista, Stockholm, with a total leasable area of 25,000 sqm. The vendor is Nordika and the sales price amounts to MSEK 750 (€ 78 M).

Record Year for New Brands in Sweden

Sweden Sweden — Never before have this many new brands been established on the Swedish market, reported by JLL in their report Destination Nordics. “There is a high pressure on the Swedish Market and international investors search for store locations like never before” says Martin Lindgren, CEO for Retail Agency at JLL Sverige.

Largest Single Asset Transaction Ever in Finland

Finland Finland — A Finnish institutional joint venture led by SRV is set to launch construction of €480M REDI Shopping Centre in Helsinki.

Three Nordic Capitals Amongst Europe’s Eight Most Competitive Cities

Nordic — In JLL’s annual City Momentum Index (CMI), Copenhagen, Stockholm and Oslo are amongst the eight top regions in JLL’s ranking of Europe’s most dynamic cities.

Axa divests to Sirius in Finland

Finland Finland — Axa Real Estate announces that it has completed, on behalf of one of its funds, the sale of a retail portfolio in Finland to Sirius Capital Partners for approximately €25M.

Åsa Linder Leaves JLL

Sweden Sweden — Åsa Linder, Head of Analysis at JLL Sweden moves on to become Head of Transactions, Analysis and Valuation at Svenska Bostadsfonden. Norbert Adamek is the new Head of Analysis at JLL.

JLL: Stable Development on Stockholm’s Office Market

Sweden Sweden — Stockholm’s office market is continuously characterised by a low supply and high rent levels. At the same time minor movements towards increased vacancies are visible in the most central locations and a decrease in available office spaces outside the city. This is shown by the annual Nordic City Report conducted by JLL.