Brunswick Real Estate, acting on behalf of Sveafastigheter Fersen II AB, has completed the sale of Grocery Stores Sweden (GSS) portfolio to the Tre Kronor Property Investment. Total gross asset value amounts to €87.6m (SEK 903m). The portfolio comprises 50 assets, including 43 grocery stores, and a total retail area of 69,000m². The assets are located all across Sweden, with an emphasis on smaller regional cities in the southern and mid parts of the country. ICA is the largest tenant, followed by Coop and Axfood.
Sveafastigheter Fersen II AB, co-owned by global private markets investment manager Partners Group, on behalf of its clients, and Brunswick Real Estate, has held the portfolio since 2016. The companies have been responsible for the management of the portfolio together with Scius Partners as a local asset management partner.
Annika Fridolf, Fund Manager at Brunswick Real Estate says: "The divestment of the GSS Portfolio is a great example of a well-executed business plan. Since 2016 we have completed strategic add-on acquisitions to the portfolio, renegotiated and extended lease agreements, and made relevant investments in the properties. We are happy to divest a well-positioned portfolio to the growing company Tre Kronor.”