Special investment fund Trevian Finland Properties I has on 14 February 2020 bought from Harry Schauman Foundation a landmark entity by the Vaasa market square, at Hovioikeudenpuistikko 16, Alatori 1 and Alatori 3. The properties are in good condition with stylish execution, located between two busy shopping streets just 200 metres from the railway station. There is plenty of parking space in the area, and the transaction includes a stake in the parking company Vaasan Toripysäköinti Oy.
The properties, built in 1926-1991 and renovated in 2018, have 18,700 m2 of leasable retail, office, entertainment and hotel area with 49 tenants. The Espen shopping centre, opened in the fall of 2018, operates in the premises, and anchor tenants include Nordea Bank, Halonen (fashion), BioRex (cinema) and New Yorker (fashion).
”Vaasa is an interesting city for us with brisk economic activity and a high level of purchasing power, but at the same time the highest yield requirement among the Finnish growth centres. We are extremely satisfied with this high-quality acquisition of a comprehensive hybrid entity of properties with a long lease maturity and effective diversification, well suited for our investment strategy”, says Partner and Investment Director Risto Aro at Trevian Funds AIFM. “We are a domestic expert with a long-term view, and we want to implement our principles of recognisable ownership and local presence also in Vaasa, as we strive to support and further improve the vitality of the Vaasa CBD”, Director Aro continues.
Trevian Finland Properties I has continued its strong growth. Its assets under management grew to ca. 330 million euros at year-end, which have been effectively diversified both geographically and by property and tenant segments. After this latest transaction, there are 41 properties in the fund’s portfolio with 320,000 m2 of leasable area and more than 650 tenants. The fund’s annualised net return after fees has been 8.88% per annum since inception.
Partner, Director of Real Estate Investments
Trevian Funds AIFM Ltd
tel. +358 50 420 3950
Trevian Funds AIFM was established in 2017 and it has a license under the AIFM Directive. The company is based on Finland’s strongest property portfolio management expertise. Non-UCITS Trevian Finland Properties I is its first fund to invest in strong cash flow and development potential.