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 increases in both turnover and customer satisfaction. The company’s efforts throughout the year concentrated on improving occupancy rates and advancing sustainability initiatives – culminating in a 94% reduction in the portfolio’s carbon footprint.

– The year 2024 was significant for Agore in terms of both financial performance and our sustainability efforts. We have demonstrated that consistent development, responsible practices, and strong local collaboration lead to sustainable growth, reflected not only in our business success but also in the well-being of our communities and positive environmental impact, says Anni Tenhunen, Portfolio Manager at Trevian.

Table 1. Agore Properties Key Figures 2024

While no new acquisitions or divestments were made during the year, Agore focused on enhancing the existing portfolio and driving sustainability forward. The BREEAM In-Use certification process was expanded to cover the entire portfolio. By year-end, 50% of the properties were certified, and as of April 2025, 98% have achieved certification at the “Very Good” level.

Agore’s shopping centers recorded an average 2% increase in footfall, while overall sales rose by 4%. Notably, Tullintori in Tampere and Revontuli in Rovaniemi outperformed national averages. Visitor satisfaction also improved considerably, with the Net Promoter Score (NPS) increasing by 10 points to +42. Over the year, Agore organized more than 160 community events and sustainability initiatives aimed at strengthening the vitality, appeal, and sense of community within its centers.

Sustainability remained at the core of Agore’s strategy throughout 2024. The company made determined progress toward its carbon neutrality target for 2035, achieving a reduction in market-based emissions of over 94%, from 317 tonnes to just 20 tonnes. The share of renewable energy usage rose to 97%, and the recycling rate improved to 62% (+4%).

– In 2025, Agore will continue to develop its operations in close collaboration with tenants and local partners. Investments will focus on commercial renovations, tenant improvements, and upgrades that enhance sustainability and technical performance. Our goal is to further strengthen the role of our properties as integral parts of vibrant city centers, adds Portfolio Manager Anni Tenhunen.

Learn more about Agore’s sustainability efforts – Download the 2024 Sustainability Report here.

For additional information, please contact:

Anni Tenhunen
Portfolio Manager / Head of Retail Team
Agore Properties / Trevian Asset Management
+358 40 725 6005
anni.tenhunen@trevian.fi

Agore Properties was founded in 2017 and is a fully Nordic-owned real estate investment company. The Agore portfolio currently consists of properties in 8 cities around Finland. The total value of the portfolio is approximately EUR 200 million. Focused on developing central urban locations, Agore actively contributes to the vitality and vibrancy of city centers. Agore is committed to responsible real estate business and targets quality and sustainability in the development of its own operations. www.agore.fi/en/agore

Trevian Asset Management is a Finnish real estate investment and asset management company focused on office, retail, residential, logistics and data centers, owned by its key personnel. We offer full-service asset management and structured investment services throughout the whole investment lifecycle. The services are focused especially for institutional real estate investors, banks, and other professional investors. Trevian’s assets under management is 1.2B€. www.trevian.fi/en