Slatto creates a new platform within public-use real estate by acquiring a portfolio of properties concentrated in Stockholm and Gothenburg with an underlying value of c. €300m.
Slatto Core+ has entered into a conditional agreement to acquire a public-use portfolio with 47 properties totalling c. 87,000m2 from Estea Omsorgsfastigheter. The portfolio is located in large municipalities in Sweden with a focus around Stockholm and Gothenburg. It consists mainly of elderly care homes with a remaining lease duration of about 9 years.
With this acquisition from Estea, Slatto establishes public use as a new business sector, supplementing the company’s existing themes in Nordic residential, logistics and light industrial as well as hotel.
This acquisition fits well into Slatto Core+ existing portfolio with a focus on strong, sustainable cash flows.
“Slatto has previously invested in selective acquisitions and projects within the public use segment. We have a strong belief in future demand for these types of assets and look forward to managing and developing this portfolio, as well as assessing further investments in public use”, says Erik Dansbo, Senior Partner and Chief Investment Officer at Slatto.
Image source - Cision.
