Global law firm White & Case LLP advised Cerberus Capital Management, L.P., a leading private investment firm based in New York, on the acquisition of a real estate portfolio comprised of five shopping centers and a purchase option on a development site from Citycon Oyj, a Finnish listed company owning and managing shopping centers in the Nordic and Baltic regions.

"We advised Cerberus on their debut direct investment in the Finnish property market, which represents an expansion of their already active European real estate investment strategy," said Helsinki-based White & Case partner Timo Airisto.

Four of the shopping centers are located in the Helsinki area and one in Jyväskylä, Finland. In total, the centers comprise approximately 61,000 m2 of gross leasable area. The acquisition is expected to close in November 2017.

The White & Case team which advised on the transaction was led by partner Timo Airisto (Helsinki) with support from partner Tanja Törnkvist and associates Eerika Halme, Heidi Blomqvist, Pia Laaksonen, Artturi Puoskari (all Helsinki).