Ovaro is selling the Jyväskylä Forum shopping center for around 9 million euros

Real estate investment company Ovaro has entered into a deal according to which the company will sell the shopping center property of the shopping center Forum, located in the core of Jyväskylä, which it acquired in April 2024.

“The property will be sold in parts to two buyers with a combined debt-free purchase price of EUR 9.05 million. The profit effect of the deal after transaction-related expenses and deferred taxes is about one million euros, which will be recorded in the H1 2024 half-year report,” states the company’s press release.

The property in question is for sale For Järvi-Suomen Asunnot Oy with a debt-free purchase price of just under 4.2 million euros. The plot belonging to the shop is sold Royal House Oy:llewhich is an entity controlled by a member of the company’s board of directors.

According to Ovaro, the debt-free purchase price of the plot of just under 4.9 million euros will be used to offset what was previously announced of Jyväskylä Kukkula Kehitys Oy the transaction amount between Ovaro and Royal House Oy regarding the shares.

“I am satisfied with the sale of Kauppakeskus Forum, which has a positive profit impact of about one million euros for Ovaro. With the deal, the company frees up its resources for projects in Jyväskylä Kukkula”, says Ovaro’s CEO Marko Huttunen.