CBRE advises eQ Commercial Properties Fund on Retail portfolio sale

CBRE advises eQ Commercial Properties Fund on the sale of a prime grocery anchored retail portfolio in Espoo and Tampere to LocalTapiola. eQ Commercial Properties Fund has sold three retail assets located in Espoo, Tampere and Ylöjärvi to LocalTapiola Aluekiinteistöt Ky Property Fund, managed by LocalTapiola.

The properties, completed between 2016-2017, are located in the well-established retail locations in Espoo along Ring Road III and Tampere region along main arterial highways surrounded by popular residential districts. The portfolio comprises of modern premises with prominent ESG profiles anchored by leading Finnish retailers, Kesko and Tokmanni Group, presenting resilient grocery and daily goods investment.

CBRE acted as the Seller’s exclusive commercial advisor and Krogerus Attorneys acted as the legal advisor.

“We have owned the properties for several years, Tampere and Ylöjärvi since construction phase, and executed multiple value enhancing asset management initiatives in recent years. We are happy to see that the portfolio gains a new well-suited landlord after our holding period. We would like to also thank our trusted advisors, team CBRE and Krogerus for making this deal happen,” says Marjaana Berger, Investment Director at eQ.

“We are extremely pleased with this retail portfolio investment. It is a welcome addition to the fund, providing sector diversification and strong tenant profiles in prime retail locations. We would like to take this opportunity to thank the seller eQ for the smooth co-operation as well as our advisors for their hard work.,” says Ville Hänninen, Portfolio Manager at LocalTapiola Real Estate Asset Management Ltd.

Ilpo Münster, Head of Investment Properties at CBRE Finland says: “We are very pleased to have acted as eQ’s commercial advisor in this prime retail portfolio transaction. Grocery and daily goods anchored retail properties provide attractive and resilient cash-flow and continue to be a sought-after investment class. The portfolio continues this trend and is backed by additional strong investment fundamentals, including strong tenant base, robust ESG fundamentals and modern premises. We want to thank eQ and LocalTapiola on the amazing transaction.”

Castrén & Snellman Attorneys acted as legal advisor to LocalTapiola.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has more than 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com. We routinely post important information on our website, including corporate and investor presentations and financial information. We intend to use our website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the Investor Relations section of our website at https://ir.cbre.com. Accordingly, investors should monitor such portion of our website, in addition to following our press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Subscribe to new press releases

Subscribe to new press releases

Latest articles