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Wereldhave completes €516M sale of last Finland property

Wereldhave NV closed the €516 million sale of the Itis shopping center in Helsinki, marking the Dutch real estate investor's exit from Finland.

The company said in a release that it will use the sale proceeds to strengthen its balance sheet.

The sale price reflects a discount of 8.5% to the asset's book value as of June 30.

The disposal is part of the company's strategy to focus on convenience centers.