HELSINKI, FINLAND-Allianz Real Estate has acquired a 50% stake of Kamppi shopping center in Helsinki. The seller is Nordic Retail Fund, a property fund invested in a portfolio of retail assets in Finland and Sweden and managed by Cornerstone Real Estate Advisers. Nordic Retail Fund will continue to hold the other 50% stake. Terms of the transaction were not disclosed.
Kamppi is one of the top five shopping centers in Finland, Allianz said in a statement. 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.
The shopping center features more than 156 stores, restaurants and cafés across a total retail area of some 34,000 square meters. The tenant mix is strong and includes many well-known international brands.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
