Finnish shopping centre is one of the largest in the Nordic region
HELSINKI--(BUSINESS WIRE)--
Cushman & Wakefield’s EMEA Retail Capital Markets team has advised
Wereldhave on the disposal of one of the largest shopping centres in the
Nordics, Itis in Helsinki, Finland, to Morgan Stanley Real Estate Fund
for €516m.
The 1.1M sf property is located in East Helsinki and comprises more than
150 shops and office space over five floors, attracting more than 17
million visitors per year. Its anchor tenants include Stockmann
department store, the flagship stores Zara and H&M, and two
supermarkets: S-Market and Lidl.
Michael Rodda, International Partner, Head of EMEA Retail Capital
Markets at Cushman & Wakefield, said: “This sale is one of the largest
single retail asset sales to take place in Europe this year and
demonstrates the healthy investor appetite for fundamentally strong
dominant shopping centres."
Cushman & Wakefield advised Wereldhave. Houthoff were Wereldhave’s legal
advisors.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value by putting ideas into action for
real estate occupiers and owners. Cushman & Wakefield is among the
largest real estate services firms with 48,000 employees in
approximately 400 offices and 70 countries. In 2017, the firm had
revenue of $6.9 billion across core services of property, facilities and
project management, leasing, capital markets, valuation and other
services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake
on Twitter.
Source: Cushman & Wakefield
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Cushman & Wakefield
Richard Coleman
Head of EMEA
Communications
+44 20 3296 4326
richard.coleman@cushwake.com
or
Lauren
Joselyn
Communications Manager
+44 20 3296 3034
lauren.joselyn@cushwake.com
Source: Cushman & Wakefield