SERENA PROPERTIES COMPLETES ACQUISITION OF RETAIL PROPERTIES IN FINLAND AND CONTINUES TO EVALUATE INVESTMENT OPPORTUNITIES
Serena Properties AB, the real estate company specialized in retail properties in the Nordics, completed the acquisition of 22 retail properties in Finland from Varma Mutual Pension Insurance Company on 27 January 2016. The acquisition was announced on 20 November 2015 and the purchase price for 100% of the company amounts to approximately EUR 191,5 m.
Serena Properties has a well-diversified portfolio of retail properties with tenants that largely comprise grocery and discount retailers with long-term leases. The properties are located in established retail areas in mid-sized towns in Finland; Oulu, Jyväskylä, Pori, Turku, Lohja, Sipoo, Lahti, Porvoo, Kotka, Heinola, Lappeenranta and Joensuu.
“The initial portfolio is stable with clear development potential and constitutes an attractive platform to continue to grow Serena Properties. We are continuously evaluating new interesting business opportunities in both Finland and other Nordic countries.” says Marc von Melen, CEO Serena Properties.
Redito AB is the manager of Serena Properties with a dedicated Nordic team.