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Doughty Returns $44M to Investors

HELSINKI-Doughty Hanson refinances the four assets left in the Ilmarinen portfolio it bought in 2004.

By Anita Howarth | Updated on October 18, 2006

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HELSINKI-Doughty Hanson & Co. Real Estate has refinanced the four remaining properties in its Finnish retail portfolio and will return euro 35 million ($44.5 million) to investors. When combined with the receipts from the sale of four assets, this amounts to an overall return to date of euro 51.1 million ($63.3 million) and represents a 1.4 times return on the cash investment as well as a gross IRR of 17%.

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