Swedish Cibus Nordic Real Estate AB (publ) has acquired on June 2nd, 2020 a property portfolio of 18 retail assets in Finland. The divestment is made by two real estate funds, managed by Trevian Asset Management Oy, whose investors include Finnish pension insurance companies.
The acquired property portfolio consists of 18 grocery anchored assets leased to S Group, Kesko and Tokmanni. The assets are located across Finland, and have a total area of approximately 31,000 sqm. Trevian has been managing and developing this portfolio since 2013.
”We are delighted to have completed the transaction during this exceptional period. Grocery stores have naturally been fully operational during the pandemic. I believe this transaction and other market signals indicate the reactivation of the economy. Both office space and retail property leases are expected to revive as businesses the latest after the summer holiday period. Transactions are also easier to complete when mobility restrictions are reduced”, said Reima Södervall, CEO of Trevian.
Cibus is a real estate company listed on Nasdaq First North Premier Growth Market. The company’s business idea is to acquire, develop and manage high quality properties in the Nordics with daily goods store chains as anchor tenants. The company currently owns more than 250 properties in the Nordic. The main tenants are Kesko, Tokmanni, Coop and S-Group. “We have had our eyes on this portfolio for a long time, and the fact that we can do this acquisition during these uncertain times shows the strength of the company”, said Sverker Källgården, CEO of Cibus.
Roschier and Cushman & Wakefield have acted as legal advisors in the transaction.
Reima Södervall, CEO, Trevian Asset Management Oy
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