Partners Group has entered into an agreement to sell a Swedish retail warehouse portfolio to Svenska Handelsfastigheter for c. €115.7m. The portfolio was held in the Sveafastigheter Fersen and Sveafastigheter Fersen II structures and has been managed by Brunswick Real Estate on behalf of Partners Group since 2015. Closing of the transaction is planned for 30 May 2024.
The high-quality portfolio representing approximately 85,200m2 of retail space comprises seven properties located in Vasteras, Kalmar, Osteraker and Kristianstad. It is dominated by discount retailers with Bauhaus, Willys, XXL, Rusta and EKO amongst its largest tenants. It is 95% let with an average remaining contract period of 4.8 years.
“We are pleased to have executed this transaction on behalf of Partners Group. Over the last several years, we have implemented significant asset management initiatives, including securing large anchor tenants, the redevelopment of 8,500 sqm retail space in Västerås as well as the development of three fast food restaurants to further strengthen local service offerings. We would like to thank our local asset management partner P&E Fastighetspartner for the excellent cooperation over the years and wish Svenska Handelsfastigheter success with the continued management of this well-positioned portfolio,” commented Annika Fridolf, CEO of Fersen and Partner at Brunswick Real Estate.
Jan Hannappel, Member of Management, Private Real Estate Europe at Partners Group, adds: “Following the sale of our Finnish holdings to Nyfosa back in 2022, we are pleased to report another major exit in the Fersen structures, with the sale of our Swedish retail warehouse portfolio, after completing several transformational value creation projects over the years.”
Colliers and Kilpatrick acted as sell-side advisors in the transaction.
Image source - Cision.
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