Sveafastigheter acquires two properties in Jyväskylä, Finland, worth EUR 21 million

Sveafastigheter carries out its fifth acquisition in Finland, buys two retail and office properties in Jyväskylä, central Finland for EUR 21 miilion

The real estate private equity fund Sveafastigheter Fund II has acquired two properties in Jyväskylä with a aggregate lettable space of 16,700 square metres, 10,800 square metres of which is retail space. Attached to the properties are building rights totalling 15,000 square metres. The properties are situated in, and adjacent to, the Seppälä retail park outside Jyväskylä. The deal is carried out based on an underlying property value of EUR 21 million and was closed on January 17. The seller is a private individual.

Seppälä is the largest external retail park in Jyväskylä with tenants such as Plantagen, Biltema, Prisma, Citymarket and K-Rauta. The largest tenants in the acquired portfolio are Intersport/Kesko and the hardware retailer Rautakauppa.

– We have since the launch of Sveafastigheter Fund II in April 2006 acquired retail properties in Finland worth EUR 140 million. We have thus in a short period created an attractive portfolio of Finnish retail properties. We continue to be positive towards the Finnish property market and intend to continue searching for interesting acquisition opportunities on our own or in co-operation with local partners within retail properties as well as in other market segments such as warehouse and logistics properties, says Simon de Château, CEO of Sveafastigheter.
Catella Property has acted as advisor to the seller. Sveafastigheter has financed the deal with HSH Nordbank.