Citycon divests residential assets in Finland for €61m

Nordic mixed-use real estate owner, developer, and manager Citycon has divested its non-core residential assets at Lippulaiva in Espoo, Finland, for €61.5 mln.

Lippulaiva - Citycon

The sale includes 275 apartments, totalling nearly 13,000 m2, situated adjacent to Citycon's Lippulaiva shopping centre. 
This transaction aligns with Citycon's strategy to focus on its core Nordic retail assets, and the proceeds will be used to reduce debt.
Citycon specialises in necessity-based retail integrated with residential, office, and municipal services. Its portfolio includes approximately €3.8 bn in assets, located mainly in urban hubs, well-connected by public transport, and anchored by essential services.