Prisma Properties acquires Finnish retail asset in €7.7m forward purchase

Prisma Properties has agreed to acquire a retail property in Pietarsaari, western Finland, through a forward purchase transaction based on an underlying property value of approximately €7.7 million. 

Lehdistokuva, Pietarsaari 

The asset will comprise around 4,900 sq m of lettable area and is fully pre‑let, generating an annual rental value of approximately €0.6 million upon completion.

Located in an established retail area, the property is anchored by leading discount retailers, which account for 89% of rental value. The weighted average unexpired lease term stands at 9.7 years, providing long‑term income visibility. The seller is Finnish developer and contractor Teräselementti, which will construct the building in cooperation with Kiinteistökehittäjä. Completion and closing are scheduled for September 2027.

Prisma said the acquisition is expected to increase its earnings capacity per share by 0.73% compared with the figure reported in its Q2 results. The deal adds another modern, energy‑efficient retail asset to the company’s portfolio, fully let on long leases to established discount operators.

“We continue to build our portfolio in Finland for long‑term ownership and management,” said Tom Hagen, Deputy CEO and head of transactions at Prisma Properties. “Forward investments such as this play an important role in our strategy to secure future earnings growth per share without taking any development risk. The acquisition fits perfectly with our investment strategy, where we focus on modern and energy‑efficient retail properties as well as long lease agreements with established retail operators.”

Borenius acted as legal adviser and Naava Partners as technical adviser. The purchase price will be paid at closing once the property has been completed.