Finnish trading conglomerate Kesko has sold ten retail properties to Swedish real estate company Prisma Properties. The deal involves a debt-free purchase price of approximately 59 million euros. This transaction represents one of the largest Nordic retail property transfers in recent months.
The sale includes nine properties and one property company across Finland. These locations will continue operating as Kesko stores through long-term leaseback agreements. This arrangement allows Kesko to maintain its retail presence while freeing up capital for strategic investments.
Properties changing hands include K-Citymarket Sastamala, K-Supermarket Jyväskylä Vaajakoski, K-Supermarket Lappeenranta Rakuuna, K-Market Vihti Hiidenranta, K-Supermarket Oulu Ritaharju, K-Supermarket Saarijärvi Minttu, K-Supermarket Liminganportti, K-Supermarket Imatra Vuoksenniska, K-Market Loviisa Kuningattarenranta, and K-Supermarket Eurajoen portti.
Kesko's property strategy divides locations into strategic and basic categories. Strategic locations remain under company ownership according to long-term plans. The sold properties fall into the basic category, which Kesko may sell and lease back as part of its flexible property management approach.
Nuutti Rantatupa, Kesko's director responsible for retail premises, explained the reasoning behind the move. He said the company follows a strategy where they operate as tenants in parts of their retail network through long-term lease agreements. Prisma Properties represents a familiar partner, already collaborating with Kesko on the upcoming K-Citymarket Ylivieska property set to open soon.
This ten-property transaction expands the existing partnership between the two companies. The deal supports Kesko's goal of directing retail network investments toward areas with strong consumer demand and population growth. Revenue from the sale will strengthen this year's cash flow, funding development of new strategically important retail locations.
Finnish retail property transactions have gained momentum as companies optimize their balance sheets. The leaseback model provides immediate capital while maintaining operational continuity. For international investors, this signals continued confidence in Finland's retail sector despite economic uncertainties.
The transaction is scheduled for completion during the final quarter of next year. This timing aligns with Kesko's financial planning and allows for smooth transition of property ownership. The deal demonstrates how Nordic companies are adapting their real estate strategies to current market conditions while maintaining focus on core retail operations.
What does this mean for customers? Absolutely nothing changes in daily operations. The same stores will continue serving communities with identical product ranges and services. Only the property ownership documents change hands behind the scenes while business continues as usual at all locations.