S-Bank Property Non-UCITS Fund (S-Pankki Toimitilarahasto), managed by S-Bank Fund Management, has sold a three-property retail portfolio. The buyer was not officially disclosed, but based on research from public sources, the purchaser is Nordika. The transaction took place earlier this summer.
The properties changing hands represent established retail destinations with solid tenant bases and good accessibility. KOy Jyväskylän Vasarakatu 25 is located in the Seppälä district of Jyväskylä, a popular retail area just outside the city center. Completed in 2015, the property offers 4,685 m² of lettable space and is occupied by Puuilo.
Kiinteistö Oy Cutter Fastighets Ab is located in Vaasa at Kokkokalliontie 8, within the established Kivihaka commercial district. Kivihaka has developed into one of the city’s most important retail areas, attracting a broad mix of national chains and local retailers. The property itself was built in two phases, in 2007 and 2014, and provides 4,511 m² of lettable space. It is secured by a long-term lease agreement, with Tokmanni Oy as the main tenant.
The third asset, Kiinteistö Oy Kaakkurin Liikekeskus, is located in Oulu next to the Kaakkuri Citymarket, a well-known retail hub that serves as a key shopping destination for the surrounding area. Constructed in 2005, the property comprises 2,790 m² of lettable space and is occupied by tenants including Musti ja Mirri and Liikku.
The seller, S-Bank Property Non-UCITS Fund (S-Pankki Toimitilarahasto), is one of Finland’s open-ended property funds that has faced redemptions in recent quarters.