Prisma Properties acquires seven K-Market properties in Finland

Prisma Properties has agreed to acquire seven modern grocery properties in Finland from Kesko, operating under the K-Market brand, for an underlying property value of €19 mln.

K Market

These acquisitions, encompassing approximately 7,400 m2 of lettable area, are fully leased to Kesko, generating an annual rental value of about €1.6 mln with a weighted average unexpired lease term (WAULT) of 8.6 years. This move is a crucial step in Prisma's growth in Finland and strengthens its strategic focus on grocery retail.

Six of the properties, located in Tervola, Salla, Paltamo, Kemijärvi, Tornio, and Rovaniemi, are newly built between 2022 and 2025, with their closing scheduled for 1 July 2026. The seventh property in Vaala is currently under construction and is expected to be completed and closed in autumn 2026.

This acquisition will increase Prisma's total property value to over SEK 11 bn (€980 mln), raising the proportion of grocery and daily goods properties in its portfolio to 50% of its total rental income. The company anticipates a 1.41% increase in earnings per share as a result.

Over the past year, Prisma has established a substantial foothold in the Finnish market, accumulating a property portfolio with a total value of nearly SEK 3 bn (€267 mln) across 33 municipalities, including ongoing development projects. Following these latest acquisitions, Kesko will become Prisma's second-largest tenant by rental value.

The acquisition is being financed through a mix of equity and bank financing.

Tom Hagen, deputy CEO and head of Transactions at Prisma Properties, said: “We have methodically built our Finnish portfolio with modern, well‑located grocery properties with long lease agreements. In a short period of time, we have established a significant presence in Finland while at the same time achieving our long‑term goal of grocery properties accounting for more than half of the portfolio. Kesko becoming our second largest tenant is a strong endorsement of both the transaction and our strategy.”

Borenius, Capton Partners and Nava advised on the transaction.