Alma Property Partners makes first acquisition in Finland

Alma Property Partners and Avant Capital Partners acquire a 30,000 sqm shopping center in Oulu, Finland.

Alma Property Partners I AB, a fund managed by Alma Property Partners, together with Avant Capital Partners, have acquired the Ideapark Oulu shopping center located in Oulu from private investors. The asset has approximately 30,000 sqm of gross area and it has been let to multiple high-profile tenants like H&M, Lindex, Cubus, Dressman and Stadium. The transaction is the first in Finland for Alma’s new opportunistic fund.

“We are excited to enter the Finnish market alongside a trusted partner like Avant. We believe the Ideapark Oulu shopping center has an attractive retail location and we will look for ways to add value to the property’s overall offering,” says Simon de Château, Partner & CIO of Alma Property Partners.

“We are very pleased about being able to source this asset outside a structured sales process in such a competitive market together with a high-profile investor partner like Alma. We have already been able to identify certain asset management initiatives in the shopping center in order to further increase its attractiveness,” comments Juha Mattila, Partner at Avant.

Alma Property Partners is currently raising capital for its pan-Nordic opportunistic real estate fund. The target is to raise two billion Swedish crowns (approximately 200 million euro) of equity.