Citycon sells non-core property Lade in Trondheim, Norway
CITYCON OYJ Investor News 28 February 2017 at 10.00 hrsCitycon has signed an agreement to sell the non-core retail property Lade at the outskirts of Trondheim to Frost Holding AS. The property has five tenants and covers 8,600 sq.m. of gross leasable area. The purchase price amounts to approximately EUR 21 million (NOK 183 million), which is in line with the assets IFRS fair value. The transaction is expected to close in early March. “The disposal of Lade is a natural step in our strategy to refine our Nordic portfolio, focusing on grocery-anchored shopping centres in urban crosspoints.