JLL advises VVT Kiinteistösijoitus Oy on the sale of Retail Centre Grani to a fund managed by NREP

The grocery-anchored Retail Centre Grani hosts grocery stores S-market and K-Supermarket, along with Alko, pharmacy, and other tenants supporting the day-to-day visitors of the asset. The asset comprises of two parts located in Kauniainen city centre in a close proximity to the city’s railway station. The first part of the asset was completed in 2001, and the extension in 2018. The asset has approximately 7,500 sq m of lettable area and it has been awarded a BREEAM Very Good environmental certificate.

Jere Fredriksson, Fund Manager, VVT Kiinteistösijoitus Oy: ”The sale of Grani shopping centre follows a great range of value creation initiatives undertaken by the local team. One of the key value creation projects was the extension development which increased the number of services in the center into a totally new level. Especially, bringing another anchor grocery store to the center further strengthened its position in the submarket. Also, on ESG side good work has been done and as an example of this work the Grani shopping center was awarded a BREEAM Very Good environmental certificate earlier this year.”

Tero Uusitalo, Head of Capital Markets, JLL Finland: “We are very pleased to have successfully advised VVT on the sale of this uniquely located and positioned retail centre. The transaction demonstrates the attractiveness of well-managed and grocery-anchored local retail centres also during the uncertain market conditions.”

JLL acted as VVT’s sole commercial advisor in the transaction. Properta Attorneys acted as VVT’s legal advisor.