H.I.G. Capital has joined Cording Real Estate Group and Finnish asset management company Trevian in the agreed acquisition of about 107 million euros ($131.4 million) retail portfolio in Finland. The investor group is acquiring the portfolio from AXA Real Estate Investment Managers. The portfolio consists of 123 retail assets, mostly grocery stores, located across Finland.
Finnish investment and asset management company Trevian (http://www.trevian.fi/en) together with UK & German based Cording Real Estate Group (http://www.cordinggroup.com) announces a joint venture with H.I.G. Capital (http://www.higcapital.com/) to purchase an app. €107 million retail portfolio in Finland from a fund managed by AXA Real Estate Investment Managers (http://www.axa-realestate.com/). The portfolio comprises 123 retail assets located across Finland consisting predominately of grocery stores. Currently 95% let, the portfolio’s tenant mix is dominated by Finland’s leading grocery retailers. The announced agreement strengthens Trevian’s position as the leading retail real estate asset manager in Finland.
Trevian and Cording are pleased to introduce a major new investor to the Finnish investment market. “With over €13 billion of equity capital under management, H.I.G. Capital is one of the leading equity investment companies currently operating in United States and Europe. Our co-operation with HIG and Cording is a significant vote of confidence to Trevian’s business approach and we are looking forward to expanding these relationships”, says Reima Södervall, Managing Director of Trevian Asset Management Oy.
Trevian and Cording´s joint-venture agreement combines best in class Finnish asset and investment management capability with Cording´s international investment management platform. “We are pleased with our working relationship with Trevian and have great confidence to grow this platform substantially in the future” says Will Amies, Director of Business Development of Cording Real Estate Group.
Trevian Asset Management Oy is a Finnish investment and asset management company specializing in commercial properties. The company produces actively managed real estate equity funds and asset management services optimized for its customers with current assets under management of more than € 700 million. The services are focused especially for institutional real estate investors, banks and other professional investors. For more information, please visit www.trevian.fi/en. H.I.G. Capital is a leading global private equity investment firm with more than €13 billion of equity capital under management. Based in Miami, and with offices across the USA as well as international affiliate offices in Europe and South America, H.I.G. specializes in providing capital to small and medium- sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of €22 billion. For more information, please visit www.higcapital.com.
Cording Real Estate Group is a fully integrated real estate business which provides in-house services covering portfolio management, financial management, asset management, property management and development management. Cording currently has a total mandate volume of €1.7bn, with 83 staff operating from 5 offices in Germany, 2 in the UK and 1 in Denmark. www.cordinggroup.com
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