YIT to Sell Projects in Finnish Growth Centres to Investors

Finland Finland — YIT to sell projects in Finnish growth centres to investors and the first plots to the newly established plot fund.
TOP 4 Nordic
Lary Marben.
Nordic Nordic —
Patriam strengthens its team with project development manager
Joakim Arvius.
Nordic Nordic —
Joakim Arvius leaves Colliers
Christian Winther.
Nordic Nordic —
“It is about securing continuity and maintaining momentum”
Carl-Johan Hugner.
Nordic Nordic —
Nyfosa buys in Norway and sells in Sweden
Johannes Merbom, new CEO of Östersundshem.

Swedish Chaos Company Appoints New CEO

Sweden Sweden — Swedish Östersundshem had a turbulent spring with the former CEO Daniel Kindberg being charged with fraud and the board quitting. Now Östersundhem has appointed a new CEO to bring back the calm.

Technopolis Invests EUR 25M in Campus Expansion in Oulu

Finland Finland — Technopolis has decided on a EUR 25M investment to expand its CBD campus in Oulu. Construction work is scheduled to start in July 2018, after receiving a building permit. The project is due for completion in March 2020. 

JM Acquires Property in Espoo

Finland Finland — JM is acquiring a centrally located school property in Leppävaara, Espoo, in the Greater Helsinki area. The property’s detailed plan has gained final approval for 850 apartments.

Magnolia Sells to Slättö

Sweden Sweden — Magnolia Bostad signed an agreement for the sale to Slättö of around 650 residences in Bro, Upplands-Bro municipality. The value at completion is expected to amount to around EUR 113M.

Why the Finnish Transaction Volume is Decreasing

Finland Finland — Finland continues to be smoking hot on the real estate market. Despite this, the transaction volume has decreased by 48 percent compared to the first half of 2017. Mikael Söderlundh, Head of Research at Pangea Property Partners, tells Nordic Property News why the numbers are decreasing despite a continuously attractive market.

Largest Nordic Transactions of H1 2018

Nordic — An intense first half of 2018 is in the books. The Nordic countries are on pace to set a new transaction record. Nordic Property News has listed the ten largest transactions.

Herning Center Changes Owner

Denmark Denmark — Danske Shoppingcentre, a JV between ATP Ejendomme and Danica Ejendomme, acquires Herning Center, making it their 17th Danish shopping center.

Peab Builds High-rise in Esbo

Finland Finland — Peab has been commissioned to build a high-rise in the city of Esbo. The customer is the state-owned rental company A-Kruunu and the contract is worth EUR 15M.

Skanska Constructs Metro Station for EUR 51M

Finland Finland — Skanska has signed a contract with Länsimetro Oy to build a metro station in Kivenlahti. The contract is worth EUR 51 M.

Pelican Sells Five Plants in Sweden

Sweden Sweden — Pelican Self Storage divests five of their eleven plants in Sweden. The plants which are concerned are located in Västerås, Örebro, Linköping, Norrköping and Åkersberga. The buyer is Shurgard, who takes over the plants including employees and customers.

”Our Ambition is to Become One of the Major Property Owners in Helsinki”

Finland Finland — Castellum, one of Sweden’s largest listed real estate companies, makes their entrance into the Finnish market with a EUR 81M acquisition from Skandia. Henrik Saxborn, CEO of Castellum, tells Nordic Property News of the strategy to grow in more Nordic markets, how much they are looking to invest in Finland and why he believes a player like Castellum is missing in Helsinki.

Continued Swedish Interest in the Danish Market

Denmark Denmark — Several Swedish investors have entered the Danish market lately and contributed to the Danish market has increased by 57 percent in transaction volume. Mikael Söderlundh, Head of Research at Pangea Property Partners, tells Nordic Property News about the Danish increase and why the Swedish interest in Denmark looks to remain high.

Ikano Sells to Trianon and Heimstaden

Sweden Sweden — Ikano sells to Heimstaden and Trianon, which has signed an agreement to buy a property portfolio of a total of eight properties in Malmö and two properties in Lund. The portfolio comprises 388 apartments and a smaller number of commercial premises. The transaction price is EUR 69M.

Nordisk Renting in Office Investment in Vasa

Finland Finland — Nordisk Renting and Wärtsilä Finland Oy has signed a lease regarding an office complex in Vasa constructed by Oy Vaasa Parks Ab.
Elimäenkatu.

Why Cromwell Choses Finland over Sweden

Finland Finland — After purchasing the Omega portfolio together in 2017, Cromwell and Goldman Sachs continue to do business together in Finland. They now purchase 27 properties from IVG Polar for EUR 108.5 million. Tomas Beck, Head of Nordics at Cromwell, tells Nordic Property News about the significance of the acquisition, the hunt for more investments in Finland and why he currently has a hard time seeing Sweden as an attractive investment alternative.
Jens Engwall.

Hemfosa Acquires Portfolio for EUR 106M

Sweden Sweden — Hemfosa has signed an agreement to acquire a property portfolio in Sweden with a value of about EUR 106M. The portfolio consists of seven properties comprising predominantly office premises with tenants in the community services sector.

YIT to Construct New Hotel in Turku

Finland Finland — YIT, Rausanne Oy and Turun Osuuskauppa (S Group, Turku Cooperative Society) together have agreed to construct a new hotel in Kupittaa, Turku. The value of the transaction is approximately EUR 30M. The project will be entered in the order backlog for the second quarter of the year.
Mikael Söderlundh.

Residential Dominates the Nordics

Nordic — Residential has been the most substantial segment as the Nordic transaction market notes the second highest listing ever in the first six months of 2018. Mikael Söderlundh, Head of Research and Partner at Pangea Property Partners, tells Nordic Property News about the factors behind the rise of the residential market.
Castellum enters Finland with an acquisition from Skandia.

Castellum Enters Finland with EUR 81M Acquisition

Finland Finland — Castellum has acquired a substantial property in central Helsinki from Skandia, thereby establishing itself as a major player in a new attractive market.
The new complex will be located next to the Ratina shopping center.

NCC Constructs Office and Retail Complex in Tampere

Finland Finland — NCC is to construct an office and retail complex next to Ratina shopping center in Tampere. The customer is Sponda Plc and the value of the project is approximately EUR 25M.
The hotel will contain 453 rooms.

Balder in New Hotel Investment

Sweden Sweden — Balder, together with Folkets Hus and the hotel operator Nordic Choice, has entered into an agreement to develop, construct and operate the new hotel at Järntorget in Gothenburg.    

Peab Builds School in Kangasala

Finland Finland — Peab has been commissioned to tear down old school buildings and build a new school in Vatiala, Kangasala City. The customer is Kangasala Municipality located in the middle of Finland and the contract is worth EUR 12M.

These Are McDonald's Focus Areas in the New Nordic Expansion

Nordic — The world's largest fast food chain McDonald's increases their investments in the Nordic region with a new expansion of 100 new restaurants in the coming five years. Christer Åberg, CEO of McDonald's in the Nordics, tells Nordic Property News about the distribution of the new restaurants and in what areas they are looking for new establishments.

Why Helaba Strengthens Their Nordic Presence

Nordic — German Helaba strenghtens their position in the Nordic countries by converting their Stockholm representive office into a fully-fledged branch. Michael Kröger, General Manager International Real Estate Finance at Helaba, tells Nordic Property News of why Helaba views on the conversion, the Nordic markets going forward and the foreign interest.