Cordea Savills, the European property fund manager, has established an office in Stockholm as part of its expanding European infrastructure, with three key appointments, Håkan Blixt, Olle Hällfors and Johan Eliasson. The new office will have responsibility for the Nordic region and the Baltic states, both in terms of investment activities and servicing local clients.
To date Cordea Savills has acquired c. 200 million of property in Sweden and Finland for a number of clients and it intends to continue to invest in the region as well as to create market specific funds.
Justin O'Connor, Chief Executive Officer for Cordea Savills, commented, "The Nordic region offers excellent investment opportunities, plus we will be able to be closer and more responsive to our client base. Cordea Savills has a strong track record in sourcing stock in the region and we have a strong pipeline of new deals coming through. We are very pleased to expand our international network of offices and firmly establish our position in such a key market with three quality appointments."
Cordea Savills believes that the Nordic region offers many attractions for investors. It is economically strong and growth rates are projected to be above the European average. The property investment markets are professional and transparent and while yields have compressed, they are higher than many other western European standards.
Håkan Blixt will be in charge of the investment team. Håkan has joined Cordea Savills from Niam AB, the private equity company specialising in commercial real estate, where he was a managing partner with responsibility for risk and transactions.
Olle Hällfors joins from Desima AB, a Swedish and UK based property management company and will be responsible for finance and operations in the Stockholm office.
Johan Eliasson who, as part of his brief, will have specific responsibility for clients in the Nordic region also joins from Niam, where he was manager in charge of investor relations and sales.
Håkan Blixt commented, "Establishing an operational platform in the Nordic region will allow us to build upon our existing investment capabilities and to explore opportunities in the Baltic countries also. We are seeing significant institutional investor demand for access to these markets and we will also be able to service our existing clients in the region from this office."
Stockholm is the latest addition to Cordea Savills' business, which includes offices in London, Dublin, Munich, Milan, Paris and Luxembourg.
Source: Cordea Savills