Marimekko agrees sale and leaseback of its Helsinki head office

Marimekko agrees sale and leaseback of its Helsinki head office

Published at: 2018-04-12 10:29 | Author: CIJ Baltics
Marimekko has sold its head office in Herttoniemi, Helsinki to the OP Financial Group. Marimekko have agreed to lease back the 11,000 sqm property that also houses a textile printing factory and two stores. President and CEO of Marimekko Tiina Alahuhta-Kasko said the sale made financial sense. "We saw this transaction as an opportunity to improve our financial flexibility and fully focus on our future growth. Owning real estate is not part of Marimekko's core business", she said, but the building itself "plays an integral role in housing a big part of our creative community and business functions and serving as a destination for domestic and international customers and visitors." The sale price of the building was €10.4 million. The property will be placed in OP Financial Group's Real Estate Fund Finland III Ky.

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