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Real Estate & Construction / 4 May 2016

Borenius advised Citycon on EUR 74 million sale of a property portfolio to eQ Finnish Real Estate

We advised Citycon Oyj on the EUR 74 million sale of a portfolio of five properties comprising 46,800 m2 and located across Finland. The buyer was eQ Finnish Real Estate, a Finnish investment fund.

The portfolio consists of the following assets: Sinikalliontie 1 Koy (Espoo), Kontulan Asemakeskus Koy (Helsinki), Lentolan Perusyhtiö Oy (Kangasala), Lillinkulma Koy (Piispanristi) and Länsi-Keskus Koy (Espoo). The divestments are part of Citycon’s strategy to recycle capital and focus on urban, grocery-anchored shopping centres in the Nordics and Baltics.

Citycon is an owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic region, managing assets that total EUR 4.7 billion and with market capitalisation of approximately EUR 2 billion.

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