Central Finland Cooperative Bank has sold its ownership stake in Jyväskeskus shopping center. The property is located in downtown Jyväskylä, a major city in central Finland. The bank transferred all shares of Jyväskylän Kassatalo Oy to Business Network Oy. This transaction occurred through a stock purchase agreement signed on Friday.
Business Network is a property investment company owned by local investor Timo Häll. The sold shares grant control over the property portion of Jyväskeskus. This deal transfers ownership of half the shopping center. The other half remains with property management company NK Keskisuomi Oy, which is based in Espoo.
This sale represents a strategic shift for the regional bank as it divests from commercial real estate. The transaction consolidates local property ownership under experienced investors while freeing up bank capital for core financial services.