Agore Properties: Strong ESG gains and stable performance highlight resilient 2025
Agore Properties delivered resilient performance in 2025, strengthening cash flow through active asset management, tenant collaboration, and targeted investments. Measures to improve energy efficiency and asset quality supported cost control, improved asset competitiveness, and strengthened the long-term performance of the portfolio.
Agore is a Nordic real estate investment company with a portfolio of shopping centres, retail properties, and office spaces across Finland. The portfolio is managed by Trevian Asset Management.The company continued to align its assets with local market
Trevian Asset Management has signed a letter of intent to expand its ongoing development platform in the Oulu region, Northern Finland. The agreement integrates an adjacent development site into the broader investment structure, significantly increasing the overall scale and long-term capacity of the project.The expansion adds approximately 60,000 sqm of development land, strengthening the platform particularly in terms of infrastructure readiness and power availability. As a result, the combined area forms a more robust and scalable foundation for large-scale digital infrastructure and
Trevian Asset Management has appointed Mika Alanko as Head of Trevian Real Assets. The company is accelerating the development of its infrastructure business across Finland amid growing demand for data centers and energy assets. Alanko will assume his role on 1 June 2026 and play a central role in its continued expansion.The appointment supports Trevian’s strategic expansion into infrastructure, with a focus on digital infrastructure, energy solutions and social infrastructure. The company initiated its first data center projects in 2024. In 2025, Trevian further strengthened its position
Finland’s real estate market will not recover evenly in 2026 but will instead split into sectors with structural growth and those facing long-term challenges. According to Trevian Asset Management, market direction is no longer defined by the general cycle, but by where real economic growth is occurring. Two forces stand out: digital infrastructure, closely linked to the energy transition, and the rapid growth of tourism in Lapland. Both are supported by genuine international demand and a strong dependence on physical real assets.Digital infrastructure has become a structural foundation of
The year 2025 marked a clear turning point for the Finnish real estate market. After several challenging years, early signs of recovery translated into tangible momentum: interest rates began to ease, transaction activity picked up, and international investor interest in Finland strengthened – particularly in infrastructure and data center–related investments.For Trevian Asset Management, 2025 was defined by disciplined strategy execution in a gradually reopening market. The company was active across multiple real estate sectors, completing complex transactions both as an investor and as an
Trevian’s and Nuveen’s first residential investment in Finland has achieved exceptional leasing success, with additional units currently under development. The €42 million investment, executed with advisory support from Trevian Asset Management, highlights strong demand in the Greater Helsinki area for energy-efficient, design-led family rental housing located close to schools.At the core of Trevian’s and Nuveen’s investment strategy is addressing family housing needs by combining A-rated energy efficiency, attractive micro-locations, and carefully considered material choices and layouts
Trevian Asset Management has achieved strong leasing success at Plaza Business Park in Vantaa, near Helsinki Airport. The office buildings Hehku and Pilke have attracted new tenants from a wide range of industries, including Lapp Automaatio Oy, Finland’s leading expert in providing automation and electrical components for the mechanical engineering and process industries, and the Finnish office of Danish energy solutions specialist Emaldo ApS. In addition, Orkla Care Oy has renewed its lease on the property. The assets are owned by a fund managed by Tristan Capital Partners, while Trevian is
Swedish-listed property investor AB Sagax and Trevian Asset Management have entered into an agreement to manage and redevelop Nokia’s outgoing facilities in Oulu, one of the company’s largest sites globally alongside its Espoo headquarters. As Nokia relocates to new premises during 2025, Trevian and Sagax will work together to reposition the extensive campus – close to 70,000 square metres with significant remaining development rights – for its next long-term use.Trevian has conducted a comprehensive feasibility study examining commercial pathways for the site, including potential occupier
Trevian Asset Management and repair and construction expert Consti combined their expertise when Consti brought its Pirkanmaa units together under one roof in Tampere, at the address Nuutisarankatu 35 – a property also known as N35. The project demonstrates that the best workplace solutions emerge when an asset manager and a space user work together to create sustainable, practical, and user-oriented results.A shared goal: Bringing everyone together
Over the years, Consti Group has grown through multiple acquisitions, and its various local business units had long operated in separate
Agore’s real estate portfolio has reached a major sustainability milestone, earning 4 out of 5 stars and a score of 85 in the GRESB 2025 assessment. This represents an increase of 13 points from last year and reflects Agore’s strong strategic focus on sustainability, particularly through the implementation of BREEAM In-Use certifications.Agore Properties is a Nordic-owned real estate investment company with a diverse portfolio of shopping centers, retail properties, and office spaces across Finland. Agore Properties is particularly focused on enhancing the vitality of city centers and
The City of Oulu has selected the Raksila 2.0 business consortium, formed by SRV and Trevian Asset Management, to deliver the Oulu Experience Arena and Environment project. The project aims to develop a multipurpose arena in Raksila district, creating a vibrant, city-serving area for residents and visitors alike in Oulu, Finland’s fifth-largest city, and the most important economic center in Northern Finland.The project will start with a two-year development and urban planning phase. If the project proceeds as planned, construction of the arena is expected to start in 2028, with completion
After more than three years of closure, Veikkaus Arena, formerly known as Helsinki Arena, will reopen its doors tomorrow. The reopening marks the culmination of a complex, multi-phase real estate transaction that stands as one of the most significant achievements in Finnish commercial property investment. The arena is owned by Trevian Kasvu LP Ky, a real estate investment company managed by Finland’s Trevian Asset Management Oy.The acquisition and reopening required years of careful planning, exceptional structuring, and even amendments to EU-level sanctions regulations, necessary because
Finland’s real estate market has shown clear signs of recovery in 2025. Transaction volumes are on the rise, investment liquidity has strengthened, and interest from foreign investors is growing. This trend reflects renewed market confidence, suggesting that market activity is set to exceed last year’s levels. This provides a strong foundation for a positive momentum in the real estate sector, which we expect future market data to confirm.The recovery in transaction volumes that began last year across Europe and the Nordics is now becoming clearly visible in Finland’s real estate market.
Iso Paja, managed by Trevian Asset Management, has reached a significant milestone with the commissioning of a newly completed hybrid power plant on the office building located in Helsinki. This innovative energy solution significantly enhances the property’s energy efficiency and supports its goal of achieving operational carbon neutrality. In the first three months alone, emissions and district heating consumption have decreased substantially – carbon dioxide emissions have already been reduced by 101 tons.The commissioning of the hybrid power plant is an important step toward a greener
Agore Properties is a Nordic-owned real estate investment company with a diverse portfolio of shopping centers, retail properties, and office spaces across Finland. The property portfolio is jointly owned by the Mutual Pension Insurance Company Elo, the Swedish First National Pension Fund (AP1), and Trevian Asset Management. Trevian is responsible for managing the portfolio. Agore Properties is particularly focused on enhancing the vitality of city centers and promoting responsible property ownership.The year 2024 was a landmark period of growth and development for Agore, with significant
The ownership of the Skanssi shopping center in Turku, Finland, has changed. The new owner is a group of investors whereby a fund managed by Swiss Life Asset Managers in the Nordics is the largest owner. Swiss life Asset Managers is a leading institutional real estate investor in Europe. Trevian Asset Management Oy will act as the operating partner, responsible for the shopping center's commercial management and development.Trevian played a key buy-side advisory role for Swiss Life Asset Managers during the transaction and remains heavily involved as an investor and operating partner. The
Live Nation, one of the world’s leading live entertainment companies, has signed a 20-year long-term lease to operate the Helsinki Arena. The agreement is with Trevian Kasvu LP Ky, a real estate investment company managed by Trevian Asset Management Oy, which recently acquired the arena. Under the long-term lease and co-operation agreement, Live Nation Finland Oy’s venue management company, VN Helsinki Oy, will manage all event operations at the venue, while Trevian will remain responsible for the arena's development and initial investments.The agreement between Trevian Kasvu LP and VN
Trevian Kasvu LP Ky, a real estate investment company managed by Trevian, has acquired a controlling stake in the Helsinki Arena. The transaction, finalized on February 17, 2025, follows an agreement signed in November 2024. Trevian was advised by Tuomas Poskiparta and Krogerus Attorneys, with Trevian Asset Management taking on the role of asset manager for the arena. The reopening of Helsinki Arena is expected to significantly enhance the city’s cultural vibrancy and economic growth, providing a premier venue for sports, entertainment, and events.Completed in 1997, Helsinki Arena has long
Finland’s professional real estate market is moving toward better times. Although 2024 did not meet all expectations, there are several signs that a recovery in both the economy and real estate market is on the horizon. Capital flows are expected to strengthen, especially in residential, logistics, and commercial properties, and an increasing number of international investors see Finland as an attractive destination for infrastructure investments.Financing margins dropped last year, and this year we anticipate a further decrease in interest rate hedging prices as the key interest rate
ELIXIA, the Finnish branch of SATS Group, the leading provider of fitness and training services in the Nordics, is set to move its headquarters to Move in Helsinki in early 2025. This relocation will strengthen ELIXIA’s partnership with the office building managed by Trevian Asset Management. The new headquarters will be located in the same building as a large fitness center that reopened after extensive renovations in September 2024. Move's occupancy rate has increased significantly despite the shift towards remote work altering the space requirements for many companies. This increase is
Trevian Asset Management is expanding its business to include infrastructure investments. Jukka-Pekka Joensuu, who has solid experience in advising, planning, and managing strategic projects, is responsible for developing the new business unit. The focus areas of Trevian's infrastructure business unit are investments related to data centers and energy recovery and storage. Trevian has initiated its first data center projects during the year 2024.Jukka-Pekka Joensuu has been appointed the lead advisor for Trevian's new infrastructure business unit. He is responsible for mapping, analyzing,
The Finnish shopping centres managed by Trevian Asset Management and owned by Agore Properties - Revontuli in Rovaniemi, Lanterna in Helsinki, and Aapeli in Kuopio - have been awarded the prestigious BREEAM certificate at a 'Very Good' level. This certification demonstrates the shopping centres’ dedication to sustainable development and social responsibility.BREEAM (Building Research Establishment Environmental Assessment Method) is the world-leading assessment method for evaluating the environmental impact and sustainability of buildings and infrastructure. The ratings indicate how well
Central European banks often offer more competitive interest and financing costs than Finnish banks, giving international investors a significant advantage in the Finnish real estate market. Investors are particularly interested in long-term leases, which provide security and facilitate financing transactions. The peak of interest and financing costs was reached last year, and now the Finnish real estate market, which has been stagnant for a long time, is opening up again due to the decrease in real estate values, driven by the declining interest rate market. This market review reflects the