Aberdeen's Swedish property fund buys four shopping malls in Stockholm (SE)

Aberdeen Property Fund Sweden has acquired four shopping centers in Stockholm. The seller is GE Real Estate Norden. The deal encompasses Salem Centrum, Ekerö Centrum, Viksjö Centrum, Järfälla, and Rondellen Centrum in Upplands Väsby. Newsec Investment acted as advisor to their seller.

The total floor space is 32,000 m², of which 67% is retail space. The properties have a total rental value of some SEK 41 million (€4.4m) annually.

"Thanks to these acquisitions, the fund has gained the potential to expand in the Stockholm retail market. We plan to continue the development of the properties initiated by GE," says Joakim Nordblad, Fund Manager at Aberdeen Property Fund Sweden.

Aberdeen Property Fund Sweden aims to build up a highly diversified property portfolio in Sweden and has invested a total of some SEK 1.6 billion (€170m) to date. The fund has a leveraged target volume of SEK 5 billion (€500m) in total capital.

"We will conduct additional deals in the retail and residential sectors in the near future, but we are also looking for office properties in regional cities in southern and central Sweden on behalf of the fund," notes Magnus Kenning, Transactions Manager, Aberdeen Property Investors.

Source: Aberdeen Property Investors

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