Roschier represented Harry Schaumans Stiftelse in the sale of a landmark building complex in Vaasa
Harry Schaumans Stiftelse has sold a landmark retail, office, entertainment and hotel complex of 18 700 lettable square meters to the special investment fund Trevian Suomi Kiinteistöt I. The building complex includes almost a whole city block in the commercial center of Vaasa and comprises the newly renovated shopping center Espen, office premises, a cinema and a hotel under construction. Roschier represented the seller.
The building complex was built between 1926 and 1991 and renovated during 2018. Large office tenants such as Nordea, Sweco and KPMG are among the total of 49 tenants of the complex.
Harry Schaumans Stiftelse was founded in 1933 and is a significant social developer with the purpose of supporting university education and culture. The value of the share portfolio of the foundation has risen to EUR 20 million. The transaction was driven by a strategic decision by Harry Schaumans Stiftelse to reduce the proportion of real estate in invested capital to diversify long-term risk.
The purchaser, Trevian Finland Properties I, is a Finnish mutual investment fund investing into business properties, providing strong cash flow in the growth centers of Finland. The assets held by Trevian Finland Properties I were approximately EUR 330 million at the turn of the year.