During the period of ownership Niam has performed several structural changes in order to further improve the center’s offering and customer experience. An upgraded food court with a variety of restaurants together with new tenants such as Gigantti (Elgiganten), Jysk and Tokmanni has increased the attractiveness of the center, both for visitors and tenants.
Real Estate Opportunistic
Niam divests Kaari Shopping Centre in Helsinki for EUR 207 million
Niam has divested one of their shopping centre assets in Helsinki metropolitan area to Keva, Finland´s largest pension provider. Kaari Shopping Center is, with its ~50,000 sqm, the sixth largest shopping center in the area and Niam has been the owner of the center since 2015. Niam has done several successful value-added activities to increase the attractiveness to the center and today Kaari Shopping Center is the leading convenience center in Finland.
During our seven years of ownership, we have successfully managed this retail portfolio. Kaari Shopping center has been able to increase its turnover every year since we acquired the asset. Starting from 185 million euros in 2015 and breaking the recorded in 2021 with a turnover of 257 million euros. Sales improved even during Covid-19 pandemic when retail sector was heavily impacted on government-issued restrictions.
Henrik Gerdin, Fund Manager at Niam says; “We are happy that we have taken Kaari to the next level by improving the customer experience. This is yet another example of Niams capability of executing business plans and driving value across all segments in the Nordics.”
For more information, please contact:
Antti Muilu, Country Manager Finland
+358 407 498 283, antti.muilu@niam.com
For more information about Niam, please contact:
Rikard Henriksson, Managing Partner
+46 8 5175 85 63, rikard.henriksson@niam.com
