EPISO 4, an opportunistic fund advised by pan-European real estate investment manager Tristan Capital Partners, has sold four grocery-anchored, local shopping centres in the Greater Stockholm region to the Nordic institutional investor NREP for an undisclosed price.
The assets sold by EPISO 4 include:
- Nasbypark Centrum: A community centre located in the affluent area of Taby, Stockholm comprising 11,300m² mixed-use area, anchored by a Hemkop supermarket, a senior living home and an elementary school.
- Viksja Centrum: An 11,700m² convenience centre that serves the Greater Stockholm neighbourhood of Viksjo, which has c.15,000 inhabitants. The centre is anchored by one of the strongest performing ICA grocery stores in the country, as well as Systembolaget and several cafes and restaurants.
- Ekero Centrum: An 11,000m² convenience centre in the municipality of Ekero, a middle-class suburb with high incomes, low unemployment and consistent population growth. The centre is anchored by ICA, Systembolaget, cafes and restaurants, a doctor’s practice and other functions serving the community. In addition, the complex accommodates 30 residential units.
- Rondellen: a strategically located asset in Upplands Vasby, 26km north of Stockholm, anchored by ICA
Gyongyver Giday, Director at Tristan Capital Partners, said: “Since we bought the portfolio around three years ago we have disposed of two assets that were not strategically located and focussed on stabilising the remaining four assets located in Greater Stockholm. We have successfully executed on our business plans, securing longer leases with the grocery and other anchor tenants, upgraded their units at Nasbypark and Viksjo to improve performance and have made significant advancements in obtaining residential zoning for new units in Ekero.”
