20 December 2011

Amplion negotiates lease extension for 186 retail properties with total area of 123 000 sqm

Amplion negotiates lease extension for 186 retail properties with total area of 123 000 sqm between Suomen Lähikauppa Oy and European Property Investors a fund jointly managed by AEW Europe LLP and Tristan Capital Partners Amplion Asset Management, the strategic asset manager of the Temple Portfolio, closes its third major letting transaction in the portfolio. Suomen Lähikauppa, the third biggest grocery operator in Finland, has extended 25 lease agreements to 12 years and 161 to 8 years with European Property Investors, a fund jointly managed by AEW Europe and Tristan Capital Partners.

Ralf Holmlund, CEO of Suomen Lähikauppa Oy comments, ”We are very satisfied that we have been able to secure an important part of our retail network and thus guaranteed stability for the company. The long commitment underlines the importance of these properties for our business.”

Ric Lewis, CEO of Tristan Capital Partners says, ”This letting supports our strategy of creating value with our portfolio through proactive asset management. It also demonstrates that established retail properties bring strong and stable cash flow. We are very pleased with Amplion’s ability to manage this complex deal.”

Merrick Marshall, Head of Asset Management at AEW Europe LLP says “This transaction demonstrates the importance of good landlord and tenant relationships and has resulted in a win:win outcome.  We look forward to working with Suomen Lähikauppa in the future.”

The Temple Portfolio comprises 259 retail properties across Finland, mainly leased to Suomen Lähikauppa Oy (SLK). The European Property Investors fund, managed by AEW Europe LLP and Tristan Capital Partners, purchased the portfolio from Tradeka (now SLK) in a sale and leaseback transaction in 2006. Amplion has been strategic advisor for the portfolio since the summer of 2011.

For more information, please contact:

Jyrki Konsala                                                                   Seppo Hämäläinen

Director, Amplion Asset Management Oy                          Director, Suomen Lähikauppa Oy

+358 10 5220 240                                                             +358 20 700 3180

Amplion offers tailored investment solutions to institutions and private investors on selected European markets. Amplion has assets in excess of EUR 485 million under management. Amplion is a part of the Catella group. www.amplion.fi.

 Catella is a European finance group active in Corporate Finance and Asset Management. In these operating segments, Catella focuses on selected segments in which advanced specialist expertise and local presence, combined with international reach, are key in creating added value for clients. Catella has approximately 450 employees working at offices in 24 cities in 12 European countries. Catella share is listed on First North Premier and traded under the abbreviations CAT A and CAT B. Remium AB is Catella’s Certified Adviser, +46 8 454 32 00. www.catella.se.

Download

• (PDF 12Kb )