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Stockmann to sell Helsinki property for €109M

Stockmann Oyj ABP unit Stockmann PLC agreed to sell its Book House property in Helsinki to AEW Europe City Retail Fund for €108.6 million.

The property, which was slated for a possible sale in January, has a gross leasable area of 8,861 square meters, with tenants including Bonner Books, HOK-Elanto, Isku Invest and Technopolis.

Stockmann will use the proceeds to repay a term loan maturing in June.