Redevco successfully concludes exit from Finnish market (FI)
Thursday 17 May 2012
Redevco has divested its properties in Finland, in line with its strategy of concentrating on its core markets in Europe. Following the exit from the Swedish market, Redevco has announced the sale of all its five assets, total of 22,000 m², in Finland with five separate transactions.
The most notable property sold was Pekurinkulma, a prime high street retail property in Oulu, which was acquired by Ilmarinen Mutual Pension Insurance Company. A high street retail property at Kauppakatu 37, Jyvaskyla and three retail warehouse properties in Oulu, Jyvaskyla and Lappeenranta were sold to private investors.
These disposals are in line with Redevcos strategy communicated earlier this year of further concentrating its activities on its key markets in Europe, which will allow Redevco to improve management focus on its core business, and to further streamline the organization and the efficiency of its operations, while having only a marginal impact on portfolio value.
Leimdörfer acted as financial and Krogerus Attorneys as legal advisor to Redevco in the transactions