The group, which is 100% owned by active partners, was formed in 2014 through a consolidation of the majority ownership in Leimdörfer, Sveafastigheter and Brunswick Real Estate Capital. As of March 2017, the companies gathered under the common brand ‘Brunswick Real Estate’. The purpose of the merger was to achieve an even better customer offering by combining the skills and experiences from all companies and employees.
With a belief that the Swedish real estate market would benefit from the financial approach applied within investment banking, ‘Leimdörfer Bernhardsson Westerberg & Partners’ was established in Stockholm in 1992. The company changed its name to ‘Leimdörfer’ and offices in Helsinki, Malmö and Copenhagen followed.
Over the years the offering expanded to embrace M&A, Fundraising and Research and Leimdörfer achieved the position as the largest adviser within real estate transactions in the Nordics. In 2016, for the fourth consecutive year, Leimdörfer was voted as the ‘Best Real Estate M&A Adviser’ in Sweden and the Nordics in Euromoney’s annual survey within the real estate sector. Some examples of the largest clients during recent years are Aberdeen, Akelius, Areim, Aviva, Blackstone, GE Real Estate, Ikano, Partners Group, Skanska and YIT.
Sveafastigheter was established in 2003, with a business model to provide access to attractive real estate investments focused on value-creation through active and local asset management. Between 2003 and 2010, Sveafastigheter successfully launched three real estate private equity funds; Sveafastigheter Sverige I (2003), Sveafastigheter Fund II (2006), and Sveafastigheter Fund III (2010), in total delivering a net realised IRR of 22% and an equity multiple of 1.7 to its investors. Besides the real estate funds, Sveafastigheter also established several separate accounts for large institutions and international asset managers as well as a dedicated residential development company.
The exceptional performance of the three funds led to a ranking as the most consistent top performing fund manager in the world within its category in the 2016 Prequin Global Real Estate Report – a shared first place among 34 companies and 184 funds. For the fifth time since 2010, Sveafastigheter was also voted as the ‘Best Real Estate Investment Manager’ in Sweden, the Nordics and Baltics in Euromoney’s annual survey within the real estate sector.
Brunswick Real Estate Capital
Despite Sweden consistently being one of the most liquid real estate markets in Europe, the availability of financing to borrowers has historically been volatile and dependent on the appetite of a handful of banks.
In 2013, a real estate debt fund was started, focused on secured financing of commercial real estate in the Nordics, and ‘Brunswick Real Estate Capital’ was established as the first fund of its kind in the Nordics. By the end of 2016, Brunswick Real Estate Capital held the first closing of its second senior debt fund with investors such as Norway’s largest life insurer Kommunal Landspensjonskasse (KLP), Swedish PRI Pensionsgaranti and Folksam. Brunswick Real Estate Capital II is an unleveraged debt fund providing financing for real estate in Sweden, mainly in the size of SEK 200 to 600 million per loan with maturities of up to ten years.