Asset Management
From vacant department store to a vibrant mixed-use property with strong occupancy.
Shopping Quarter Pekuri
Trevian partnered with Mandatum AM AIFM Oy to develop the Pekuri property in Oulu city center. The site, comprising four buildings constructed between 1947 and 2001, had been mainly occupied by Stockmann until 2017. When acquired in 2019, occupancy was just 35%.
Trevian converted the former department store into a mix of office, retail, and restaurant spaces, including transforming the inner courtyard into a restaurant area. The efforts increased occupancy from 35% to 95% in two years, generating strong cash flow. Despite second-floor retail leasing and partial ownership challenges, the property’s revitalization has proven successful.
”From vacant department store to a vibrant mixed-use property with strong occupancy.”
