HELSINKI, Finland—Finnish investment and asset management company Trevian together with UK & German based Cording Real Estate Group has formed a joint venture with H.I.G. Capital to purchase a $131 million (€107M) retail portfolio in Finland from a fund managed by AXA Real Estate Investment Managers.
The portfolio comprises 123 retail assets located across Finland consisting predominately of grocery stores. Currently 95% leased, the portfolio's tenant mix is dominated by Finland's leading grocery retailers. The announced agreement strengthens Trevian's position as the leading retail real estate asset manager in Finland.
Trevian and Cording are pleased to introduce a major new investor to the Finnish investment market. "With over $10.5 billion (€13B) of equity capital under management, H.I.G. Capital is one of the leading equity investment companies currently operating in United States and Europe. Our co-operation with HIG and Cording is a significant vote of confidence to Trevian's business approach and we are looking forward to expanding these relationships", says Reima Södervall, managing director of Trevian Asset Management Oy.
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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.
