Northern European mall refinanced by Aareal Bank

Aareal Bank has arranged a €358 mln refinancing package for Mall of Tripla, a prominent shopping centre within Helsinki, Finland's landmark Tripla complex. 

Mall of Tripla

This strategic refinancing, co-provided by Danske Bank and OP Corporate Bank, aims to optimise the capital structure and replace the original construction loan from 2016.
Opened in 2019, Mall of Tripla is situated in Pasila, Helsinki, adjacent to a rebuilt railway station, making it known as Finland's most accessible meeting point. With approximately 85,000 m2 of leasable retail space, it stands as one of Northern Europe's largest shopping malls by area. The mall attracts around 30 million visitors annually and houses over 200 brands. Reflecting its LEED Platinum certification, the financing was structured in accordance with Aareal Bank's Green Financing Framework.
Mall of Tripla is a core component of the larger Tripla complex, a three-block urban development that also includes 50,000 m2 of office space, a 430-room hotel, over 400 apartments housing about 1,000 residents, a major public transport hub, and 2,300 parking spaces.
Patrik Lundström, general manager Nordics at Aareal Bank, said: “We are pleased to celebrate the successful refinancing of Mall of Tripla. The shopping centre stands out as a benchmark for the retail sector across the Nordics, demonstrating how sustainable centres can combine shopping with unique experiences. It further illustrates the advantages of a mixed-use approach, integrating offices, residences, hospitality, and transport hubs within a single urban complex.”
Kenneth Nyman, chairman of the Board of Mall of Tripla, added: “It has been a pleasure to witness the vast liquidity in the current financing market for top-notch shopping centres. When a shopping centre operates successfully and generates stable cash flow, lenders can offer highly competitive terms and solutions.”