Citycon Oyj
Citycon Strengthens its Position in Oulu through Acquisition of Citytalo

Citycon Oyj 

02.07.2012 12:40
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CITYCON OYJ              Investor News        2 July 2012 at 13.40 hrs

Today, Citycon has acquired the Citytalo property, located in Oulu, Northern
Finland, at a purchase price of EUR 13.5 million from the local parish union
and private owners. Situated in the heart of Oulu's city centre, the Citytalo
property is right next to shopping centre Galleria, owned by Citycon. Citytalo
has a total leasable area of around 2,800 square metres. The premises are fully
leased, with Clas Ohlson, Gina Tricot and DinSko as anchor tenants. Citytalo
comprises two mutual real estate companies: Isokatu 20 and Isokatu 22 (incl.
the plot). The extension and redevelopment project of shopping centre Galleria,
currently being planned, is the main reason for acquiring the Citytalo
property. At the time of acquisition, its net yield is around 6.5 per cent. 

'The acquisition of Citytalo reinforces Citycon's position in the centre of
Oulu. Together with shopping centre Galleria, located next door, it forms a
strong retail entity. Citytalo is fully leased and its tenants are strong
retail players. In addition, the purchase of Citytalo gives Citycon a better
opportunity to develop the entire Citykortteli block,' says Niko Pulli,
Citycon's Director of Centre Management. 


Helsinki, 2 July 2012

CITYCON OYJ

For further information, please contact:
Niko Pulli, Director of Centre Management
Tel. +358 40 544 9014
niko.pulli@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Key media
www.citycon.fi
News Source: NASDAQ OMX



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Language:     English
Company:      Citycon Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009002471
WKN:          
 
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