Allianz Real Estate, on behalf of Allianz companies, has invested €767m (SEK 7.9bn) in Heimstaden Bostad’s portfolio in Sweden with properties recently bought from Akelius, forming a joint venture (JV) on the €2.9bn (SEK 30.4bn) portfolio centrally located in Malmo and Stockholm.
Annette Kroger, CEO North & Central Europe for Allianz Real Estate, said: “We are very pleased to enter into this joint venture covering such a well-diversified, sizeable portfolio. Our renewed interest in the residential sector is a deliberate adjustment to our investment strategy; the sector’s stability makes the sector highly attractive to long-term investors. The fundamentals in the Nordics are strong, the residential market is well-established, and we have actively targeted growth in this region.”
Nicole Potsch, Head of Acquisitions & Sales North & Central Europe at Allianz Real Estate, commented: “We are excited to launch this partnership with Heimstaden Bostad AB, a leading, best-in-class residential operator, and we look forward to this transaction being the start of a strong venture. We very much appreciate Heimstaden’s entrepreneurial approach and tenant-centricity combined with a joint view on ambitious ESG targets that we would like to realize for this portfolio.”
CEO at Heimstaden, Patrik Hall, said: “We are pleased to partner with Allianz, which is a global and reputable long-term investor with significant experience within the real estate sector. Their substantial investment and long-term commitment show trust and confidence in our platform and operational expertise, and we look forward to building a strong and lasting partnership.”
Deputy CEO and Head of ECM at Heimstaden, Magnus Nordholm, added: “Allianz shares our evergreen perspective and customer-centric mindset, and this partnership is a testament to our strategy of responsible growth with a scalable operational platform. Allianz is the fourth investor to partner with Heimstaden Bostad in 2021, further strengthening our capital structure and our position as a leading European residential real estate company.”
