HPP assisted Elite Alfred Berg real estate development fund Elite Finland Value Added Fund II Ky in the sale of a retail portfolio to special mutual fund Erikoissijoitusrahasto LähiTapiola Sijoituskiinteistöt.
The portfolio consists of 17 retail properties located around Finland, including the Tampere, Turku, Jyväskylä, Oulu, Kuopio and Lahti areas. The lettable area is a little under 30.000 sqm. The largest tenant operating on 16 of the properties is Kesko, and the second largest tenant is Tokmanni.
The purchase price of the portfolio was approximately 50 million euros.
HPP acted as the legal advisor to the seller in the transaction.