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«Aberdeen Property Investors announces that the Aberdeen European Balanced Property Fund has acquired the Chydenia-I shopping centre in Kokkola, Finland.
Aberdeen European Balanced Property Fund has acquired the shopping centre from Rockspring PIM, acting on behalf of Rockspring TransEuropean III. The city of Kokkola, located on the western shore of Finland, is the regional capital of the Central Ostrobothnia province. The Chydenia-I shopping centre is situated in the heart of Kokkola. The entire shopping centre, Chydenia -I, -II, and –III, has an area of 18,000 m². Chydenia -I comprises a lettable area of 7.852 m². Main tenants in Chydenia-I are: Hennes & Mauritz, Clas Ohlson, Mick’s, JC, Pukumies, Specsavers and Rosso. The property also includes a car park with free access for the shopping centre customers.
The Aberdeen European Balanced Property Fund currently has properties with a total asset value of some €271 million under management in Finland, France, Belgium, the Netherlands and Germany. The Fund has further deals in the pipeline in all of these countries.
To date, Aberdeen European Balanced Property Fund has raised €262 million in equity from institutional investors and is open for new capital.
Nico Tates, Fund Manager for Aberdeen European Balanced Property Fund, commented:
“The asset fits the core investment strategy of the Fund well, strengthening its presence in the Finnish retail market. It was a rare opportunity to buy a modern and well-functioning shopping centre at an attractive yield level and with upward potential. This combines both cash returns and long term capital growth.”
The Buyer was advised by Aberdeen Property Investors Finland. The seller was advised by Catella Corporate Finance». (CS della Società)
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