S-Bank Property non-UCITS Fund has divested a retail portfolio comprising two assets located in Espoo and Hämeenlinna to Frasers Group.
The Espoo asset is a retail property in the established Suomenoja retail cluster, anchored by XXL Sports & Outdoor, part of Frasers Group. The Hämeenlinna asset sits in the vibrant Tiiriö retail area and is let to Power Finland and Musti & Mirri among other leading retailers. Newsec acted as the commercial advisor and Avance as the legal advisor for S-Bank Property.
“The retail sector in Finland has a solid tenant demand especially in the big-box segment. We are pleased to congratulate the new owner on the acquisition. The transaction shows that there is a demand for quality assets in the market.” says Tiia Vuolle, Fund Manager for S-Bank Property.
S-Bank Property non-UCITS Fund is a special investment fund managed by S-Bank Fund Management that invests primarily in commercial properties across Finland, with a particular focus on the capital region and major cities. S-Bank property non-UCITS Fund has been established in 2013.
Please see more information on our assets at S-Pankki Vuokrattavat toimitilat and on the fund at S-Pankki.fi -Rahastot .