- Finnish shopping centre is one of the largest in the Nordic
Helsinki, 18 October 2018 – Cushman & Wakefield’s EMEA Retail Capital Markets team has advised Wereldhave on the disposal of one of the largest shopping centres in the Nordics, Itis in Helsinki, Finland, to Morgan Stanley Real Estate Fund for €516m.
The 100,000 sq m property is located in East Helsinki and comprises more than 150 shops and office space over five floors, attracting over 17 million visitors per year. Its anchor tenants include Stockmann department store, the flagship stores of Zara and H&M, and two supermarkets: S-Market and Lidl.
Michael Rodda, International Partner, Head of EMEA Retail Capital Markets at Cushman & Wakefield, said: “This sale is one of the largest single retail asset sales to take place in Europe this year and demonstrates the healthy investor appetite for fundamentally strong dominant shopping centres."
Cushman & Wakefield advised Wereldhave. Houthoff were Wereldhave’s legal advisors.