Krogerus advised AEW, acting on behalf of its Europe City Retail Fund, on the acquisition of an iconic retail-led asset in Helsinki’s CBD from Stockmann Plc for EUR 108.5 million, marking its first investment in Finland since the global financial crisis.
The landmark property is located adjacent to Stockmann’s flagship department store and the Esplanade Park, in what is widely regarded as the best retail and office location in the capital. Designed by architect Alvar Aalto and completed in 1969, the property comprises 8,460 square metres of fully occupied lettable area.
AEW is one of the world's largest real estate asset managers, with over EUR 58 billion of assets under management as at 31 December 2017. AEW has over 600 employees, with its main offices located in Boston, London, Paris and Hong Kong. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.
Partner Marcus Möller led the Krogerus team and he was primarily assisted by senior associate Joakim Jansson and associates Kalle Hakkarainen and Riku Saarinen. Partner Päivi Toivari, primarily assisted by associate Miikka Keränen, advised on financing matters.