Real Estate Investment Company Ovaro Sells Forum Shopping Center Property in Jyväskylä for EUR 9.05 Million Profit

Real estate investment company Ovaro has sold the Forum shopping center property located in Jyväskylä, which it acquired in April 2024. The property was sold in parts to two buyers, with a combined debt-free purchase price of EUR 9.05 million. After transaction-related expenses and deferred taxes, the profit effect of the deal is about one million euros, which will be recorded in the H1 2024 half-year report.

Ovaro CEO Marko Huttunen expressed satisfaction with the sale of Kauppakeskus Forum, stating that it has a positive profit impact of about one million euros for Ovaro and frees up resources for projects in Jyväskylä Kukkula. One part of the property, with a debt-free purchase price of just under 4.2 million euros, has been sold to For Järvi-Suomen Asunnot Oy. The plot belonging to the shop has been sold to Royal House Oy, an entity controlled by a member of the company’s board of directors, with a debt-free purchase price of just under 4.9 million euros. This amount will be used to offset the transaction amount between Ovaro and Royal House Oy regarding shares previously announced by Jyväskylä Kukkula Kehitys Oy.

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