Cornerstone Nordic’s Nordic Retail Fund sells four shopping centers, covering 45 000 square meters, to an international joint venture.
It’s Magasinet in Örnsköldsvik, Kulan in Karlskoga, Kvarnen in Mjölby and Axet in Nyköping which is divested.
“This sale is in line with NRF’s strategy of selling smaller properties and focus on fund’s larger properties where we see stronger growth in value and opportunity for adding value. Sales are associated with a number of other sales that we do after completion and successful development projects and is a part to streamline the portfolio, “says Martin Kjellström, Head of transactions Cornerstone Nordic Region
The fund has now ten retail properties in Sweden and Finland.