Apteekkien Eläkekassa (Finnish Pharmacies’ Pension Fund) has sold the entire share capital of Kiinteistö Oy Kirkkonummen Jatke and Kiinteistö Oy Kirkkonummen Tähti to a domestic investor. The properties are located at Makasiinitie 1 and 3 in Kirkkonummi, west of Helsinki.
The retail property complex comprises approximately 10,000 m² of lettable space and was developed in phases, with buildings completed in 2016, 2020 and 2026. The tenants include Jula, Tokmanni, JYSK and Rusta.
Apteekkien Eläkekassa has been the long-term owner and developer of the properties. The latest development phase involved the expansion of Kirkkonummen Tähti for Swedish retail chain Jula, which was completed in autumn 2026.
According to Juha-Pekka Ojala, CEO of Apteekkien Eläkekassa, the properties have been profitable long-term investments for the pension fund. The completion of the latest expansion marked a natural point to dispose of the assets.
The disposal also supports the pension fund’s objective of reducing its exposure to real estate investments and increasing its allocation to equities following Finland’s pension reform.