Advium advises Kesko on the largest real estate investment transaction in Finland this year
22.12.2009
Advium Corporate Finance advised Kesko in a transaction where Kesko Group has sold 13 retail store properties located in different parts of Finland to Varma Mutual Pension Insurance Company. The debt-free selling price of the properties was EUR 156 million. Additionally, one property owned by Kesko Pension Fund was sold.
All of the above properties have been leased back for use by Kesko’s division parent companies under 5-15-year leases with extension options.
Out of the 13 Kesko Group properties included in the sale, eight are used by K-food store chains, three by K-rauta, one by the Anttila department store chain and one by VV-Auto. The transaction does not involve changes to the stores’ operations. The total area of the properties sold by the Kesko Group is 111,000 m².
The transaction was the largest real estate transaction carried out in Finland in 2009.
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