2022-07-11 06:00Press release

Niam divests Kaari Shopping Centre in Helsinki for EUR 207 million

Kaari Shopping Centre in HelsinkiKaari Shopping Centre in Helsinki

Niam has divested one of their shopping centre assets in Helsinki metropolitan area to Keva, Finland´s largest pension provider. Kaari Shopping Center is, with its ~50,000 sqm, the sixth largest shopping center in the area and Niam has been the owner of the center since 2015. Niam has done several successful value-added activities to increase the attractiveness to the center and today Kaari Shopping Center is the leading convenience center in Finland.

During the period of ownership Niam has performed several structural changes in order to further improve the center’s offering and customer experience. An upgraded food court with a variety of restaurants together with new tenants such as Gigantti (Elgiganten), Jysk and Tokmanni has increased the attractiveness of the center, both for visitors and tenants.

Antti Muilu, Country Manager Niam Finland, says; “During our seven years of ownership, we have successfully managed this retail portfolio. Kaari Shopping center has been able to increase its turnover every year since we acquired the asset.  Starting from 185 million euros in 2015 and breaking the recorded in 2021 with a turnover of 257 million euros. Sales improved even during Covid-19 pandemic when retail sector was heavily impacted on government-issued restrictions.”

Henrik Gerdin, Fund Manager at Niam says; “We are happy that we have taken Kaari to the next level by improving the customer experience. This is yet another example of Niams capability of executing business plans and driving value across all segments in the Nordics.”

For more information, please contact:
Antti Muilu, Country Manager Finland
+358 407 498 283, antti.muilu@niam.com

For more information about Niam, please contact:
Rikard Henriksson, Managing Partner
+46 8 5175 85 63, rikard.henriksson@niam.com

About Niam AB

Niam is one of northern Europe's leading fund managers with a focus on investments in real estate and infrastructure. Since its inception in 1998, Niam has offered institutional investors the opportunity to invest in the Nordic real estate market through their funds. With extensive experience and expertise, the focus is on identifying and implementing improvements that create the best properties for our tenants and the communities where they are located with the goal of meeting both current and future needs. For the past 24 years, Niam has invested in properties of more than €12 billion and today they manage a property portfolio of approximately €2.7 billion. Niam Infrastructure focus on sustainable investments within renewable energy, transportation and telecom in the Nordics and northern Europe. The platform's first fund concentrates on small to medium-sized investments with a focus on asset aggregation and risk reduction in primarily sustainable infrastructure. Niam has almost 100 employees with offices in Stockholm, Helsinki, Oslo, Copenhagen and Luxembourg. For more information, please visit www.niam.com.


Antti Muilu
Country Manager Finland
Antti Muilu