Allianz Real Estate, one of the world’s leading property investment and asset managers, has acquired a 50% stake in the Kamppi shopping center in Helsinki. The seller is Nordic Retail Fund, a property fund managed by Cornerstone Real Estate Advisers, which will continue to hold the other 50% stake and to manage the shopping center. Terms of the transaction have not been disclosed.
According to Allianz Real Estate, Kamppi is one of the top five shopping centers in Finland. It was constructed in 2006 in the central business district of Helsinki. Kamppi benefits from high footfall, being located on top of the main inner city transportation hub with underground, tram and bus lines crossing here.
Strong tenant mix
Kamppi shopping center features more than 156 stores, restaurants and cafés across a total retail area of some 34,000 square metres. According to Allianz Real Estate, the tenant mix is strong and includes many well-known international brands.
“This transaction represents a rare opportunity to invest in a well-established and prominent shopping center in Finland, as the majority of prime centers are mostly owned by end-investors or in long-term ownership structures,” says Stefan Brendgen, CEO of Allianz Real Estate Germany.
Source: Allianz Real Estate