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background-Kamppi Centre

  • Year acquired

    2017

  • Size

    36,940

    sq m

  • .

    397,619

    sq ft

  • Sector

    Retail

  • Location

    Helsinki, Finland

Kamppi Centre

Kamppi Center

Its prime and diverse tenant mix, strong central location and excellent connectivity through public transport, make the Kamppi Centre an ideal fit for our European cities strategy. The asset has a strong performance track record and additional asset management opportunities. We look forward to working alongside Allianz to grow and strengthen the asset.

— Johan Åström, Head of Real Estate, Nordics

In February 2017, we acquired a 50% stake in the Kamppi Centre, a prime shopping centre located in the heart of Helsinki, creating a 50:50 joint venture partnership with Allianz. Totalling 36,940 sq m (393,959 sq ft) of retail and leisure space across seven floors, the Kamppi Centre features several prime retail brands, including Levi’s, Calvin Klein and Mango, and is anchored by a Stadium sports store and Clas Ohlson. The Japanese lifestyle brand, Muji, opened its first full concept European flagship store in November 2019 at Kamppi. The scheme also includes several upmarket independent restaurants and boasts the highest footfall of any shopping centre in Finland, with over 30 million visits in 2019.



Property images


 Kamppi Centre

Further information

Key tenants
Muji, Bestseller, Levi’s, Guess, Calvin Klein, Stadium, K-Supermarket and Clas Ohlson
No. of units
140
Partnership
Allianz

Find this property

Map location

Urho Kekkosen katu 1, Helsinki, 00100, Finland

The European properties listed are owned by European Cities Fund (ECF), in which Nuveen Global Cities REIT (REIT) has invested $75 million as of 30 June 2022. ECF has $1.8 billion in gross asset value as of 30 June 2022 excluding forward commitments. The REIT does not charge investors for management of this commitment. Investors indirectly pay the underlying management fee of ECF, on the amount of their commitment to the fund, which is lower than the REIT’s management fee. The REIT will not have direct control over ECF and therefore a part of the REIT’s performance will be affected by decisions made by ECF.

These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.

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This material must be preceded or accompanied by a prospectus for Nuveen Global Cities REIT. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. An offering is made only by a prospectus to individuals who meet minimum suitability requirements. This sales literature must be read in conjunction with a prospectus in order to understand fully all the implications and risks of the offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with this offering. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of our securities or determined if our prospectus is truthful or complete. Neither the Attorney General of the State of New York nor the Securities Division of the Office of the Maryland Attorney General has passed on or endorsed the merits of this offering. Any representation to the contrary is a criminal offense.

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Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Securities, LLC, member FINRA and SIPC, is the dealer manager for the Nuveen Global Cities REIT, Inc. offering.

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Risk factors:
Nuveen Global Cities REIT, Inc. is a non-listed REIT, which offers limited liquidity as compared to other products, such as publicly listed REITs. Investors in Nuveen Global Cities REIT, Inc. are not receiving publicly listed shares. An investment in Nuveen Global Cities REIT, Inc. involves a high degree of risk, including the same risks associated with an investment in real estate investments, including fluctuations in property values, higher expenses or lower expected income, currency movement risks and potential environmental liabilities. Please consider all risks carefully prior to investing in any particular strategy, including the following risks for Nuveen Global Cities REIT, Inc.:
  • There is no assurance that we will achieve our investment objectives.
  • This is a “blind pool” offering and other than the investments described in the prospectus, you will not have the opportunity to evaluate our investments before we make them.
  • Since there is no public trading market for shares of our common stock, repurchase of shares by us will likely be the only way to dispose of your shares. Our share repurchase plan provides stockholders with the opportunity to request that we repurchase their shares on a monthly basis, but we are not obligated to repurchase any shares and may choose to repurchase only some, or even none, of the shares that have been requested to be repurchased in any particular month in our discretion. In addition, repurchases are subject to available liquidity and other significant restrictions. Further, our board of directors may modify, suspend or terminate our share repurchase plan if it deems such action to be in our best interest and the best interest of our stockholders. As a result, our shares should be considered as having only limited liquidity and at times may be illiquid.
  • The purchase and repurchase price for shares of our common stock is generally based on our prior month’s NAV (subject to material changes as described above) and is not based on any public trading market. While there is independent periodic appraisals of our properties, the appraisal of properties is inherently subjective, and our NAV may not accurately reflect the actual price at which our assets could be liquidated on any given day.
  • We have no employees and are dependent on Nuveen Real Estate Global Cities Advisors and its affiliates to conduct our operations. Nuveen Real Estate Global Cities Advisors will face conflicts of interest as a result of, among other things, the allocation of investment opportunities among us and Other Nuveen Real Estate Accounts, the allocation of time of investment professionals and the fees that we pay to Nuveen Real Estate Global Cities Advisors.
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  • Our investments in International Affiliated Funds may be subject to currency, inflation or other governmental and regulatory risks specific to the countries in which the Funds operate and own assets.

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