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Real Estate & Construction / 24 Aug 2017

Borenius advised Citycon on the EUR 167 million sale of a shopping centre portfolio to Cerberus

We advised Citycon on the EUR 167 million sale of a 61,000 sqm GLA shopping centre portfolio consisting of the Espoontori, Tikkuri, Myllypuron Ostari and Martinlaakson Ostari shopping centres in the Helsinki metropolitan area and the Jyväskylän Forum shopping centre in Jyväskylä to Cerberus.

Citycon Oyj is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total EUR 5 billion and with a market capitalisation of EUR 2 billion.

Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Cerberus has more than USD 30 billion under management, which is invested in three complementary strategies: private equity, global credit opportunities (which includes non-performing loans, corporate credit and distressed debt, mortgage securities and assets, and direct lending), and real estate.

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