Finnish investor Trevian Asset Management has sold 12 commercial properties from its Forte portfolio to local investor Elite Kiinteistökehitysrahasto I Ky for an undisclosed sum.
The total area of the properties sold covers over 23,000 m2.
'The transaction is a good example of active asset management, which includes buying and developing properties, as well as optimising and selling the portfolio according to the strategy agreed with the investors,' said business director Jussi Raitaniemi of Trevian Asset Management. 'We will actively continue the optimisation work on the portfolio during 2018.'
Trevian began asset management of the Forte portfolio in December 2014, which included 123 properties, mainly grocery stores. Following this and other sales, the remaining Forte portfolio consists of 92 assets.
According to the asset manager, the disposals have made the portfolio geographically even more compact.
'Along with this acquisition, Elite Kiinteistökehitysrahasto I Ky is fully invested. The fund’s current properties have yielded very well, and the acquired properties will be strongly developed further,' concluded Elite's head of real estate investment management, Jaakko Ristola.