HELSINKI, Finland—Finnish investment and asset management company Trevian together with UK & German based Cording Real Estate Group has formed a joint venture with H.I.G. Capital to purchase a $131 million (€107M) retail portfolio in Finland from a fund managed by AXA Real Estate Investment Managers.
The portfolio comprises 123 retail assets located across Finland consisting predominately of grocery stores. Currently 95% leased, the portfolio's tenant mix is dominated by Finland's leading grocery retailers. The announced agreement strengthens Trevian's position as the leading retail real estate asset manager in Finland.
Trevian and Cording are pleased to introduce a major new investor to the Finnish investment market. "With over $10.5 billion (€13B) of equity capital under management, H.I.G. Capital is one of the leading equity investment companies currently operating in United States and Europe. Our co-operation with HIG and Cording is a significant vote of confidence to Trevian's business approach and we are looking forward to expanding these relationships", says Reima Södervall, managing director of Trevian Asset Management Oy.
Trevian and Cording´s joint-venture agreement combines best in class Finnish asset and investment management capabilitywith Cording´s international investment management platform. “We are pleased with our working relationship with Trevian and have great confidence to grow this platform substantially in the future” says Will Amies, director of business development of Cording Real Estate Group.
Trevian Asset Management Oy is a Finnish investment and asset management company specializing in commercial properties. The company produces actively managed real estate equity funds and asset management services optimized for its customers with current assets under management of more than $569 million (€700M). The services are focused especially for institutional real estate investors, banks and other professional investors.
H.I.G. Capital is a leading global private equity investment firm based in Miami, and with offices across the USA as well as international affiliate offices in Europe and South America. Cording Real Estate Group is a fully integrated real estate business which provides in-house services covering portfolio management, financial management, asset management, property management and development management.
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