Citycon sells shopping centre Strömpilen in Umeå

CITYCON OYJ Press Release 14 July 2015

Citycon has signed an agreement to sell the non-core shopping centre Strömpilen in Umeå to Niam. The shopping centre covers 27,000 sq.m. of gross leasable area and the purchase price amounts to approximately EUR 39 million which is slightly below the IFRS fair value for the shopping centre. The transaction is expected to close in October.

“The sale of Strömpilen is a natural step in our strategy to refine our portfolio to major Nordic cities, focusing on grocery-anchored shopping centres in urban crosspoints,” says Nils Styf, Chief Investment Officer at Citycon.

Citycon has been an active owner and manager of the shopping centre since 2007.


Helsinki, 14 July 2015

CITYCON OYJ


For further information, please contact:
Nils Styf, Chief Investment Officer
Tel. +46 733 50 60 39
nils.styf@citycon.com

Citycon Oyj (Nasdaq Helsinki: CTY1S) is a leading owner, developer and manager of urban grocery-anchored shopping centres in the Nordic and Baltic regions, managing assets that total approximately EUR 5 billion and with a market capitalisation of approximately EUR 2 billion. For more information about Citycon, please visit www.citycon.com

 

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