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Elo expands shopping center investments – looks for targets in infrastructure

The property portfolio of Finland's Elo mutual pension insurance expanded last week when the fund became the main owner of Finland's largest shopping center. Whilst shopping centers are an important part of the company's real estate portfolio, Elo is also interested in developing its infrastructure holdings.

Jumbo shopping center in Vantaa | Photo: PR

Elo mutual pension insurance's property portfolio got a new boost when the company purchased the equities of its co-owner Unibail-Rodamco-Westfield from Jumbo shopping center in Vantaa.

The deal exceeding EUR 200m was completed last week, making Elo the main owner of Finland's largest shopping center. Elo now owns the entire shopping center, excluding the area where its hypermarkets are located.

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