Catella’s asset management team in Finland has closed the final sale of a retail portfolio of 18 assets across Finland.
The firm was mandated by Mount Street Loan Solutions in 2014 to act as asset manager for the portfolio and to lead its disposal.
'We are satisfied that we were selected as the local partner of Mount Street to execute the set business plan in a given time schedule for challenging properties mostly in obsolete locations,' commented Henri Hakala, sales manager at Catella’s asset management division in Finland. 'This project has shown our capacity to find both local and regional investors for assets that do not fulfil institutional criteria. Together with this and other similar projects we have been able to build extensive connections with local investors and brokers that have served our clients’ needs well,' Hakala added.
The portfolio’s lettable area was approximately 87,000 m2. The sales were executed mostly by single asset disposals.
'Catella was able to create an excellent platform for the project and executed the business plan in accordance with an agreed schedule which maximised value and recoveries for the creditors. We are very pleased with the effectiveness and professional manner in which Catella managed the project,' said Rachel Morgan, senior director at Mount Street.
