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Brunswick Real Estate finances the new community shopping centre in Kungälv

Debt, Press Release

 

Stockholm, 31 January 2018

Brunswick Real Estate has alongside with a major Nordic institution provided a MSEK 990 loan to Kongahälla Shopping AB, a JV between Adapta Fastigheter and Alecta pensionsförsäkring. The loan will assist the company in the construction of Kongahälla Shopping, a new community shopping centre located in Kungälv north of Gothenburg, and provide a long-term financing once completed.

Kongahälla is scheduled to open in March 2019 – a regional centrepoint with approximately 100 tenants -shops, restaurants and services as well as a gym and regional health care premises. Currently close to 80 percent of the premises has been let. The Kongahälla area is growing as 900 new apartments, a travel centre and an extension to the nearby regional hospital are being built.

Louise Richnau, Partner of Brunswick Real Estate:

“Adapta and Alecta are creating a modern meeting point where people in the region can eat, do their everyday shopping, take care of doctor´s and dentist appointments as well as work out at the gym. We are pleased to provide institutional funding to support the development of Kongahälla.”

Per Thörnqvist, Founding Partner and Head of Finance and Business Development at Adapta continues:

“We are pleased to find a financing solution with institutional capital that matches our business plan for Kongahälla Shopping. This financing solution which was not available in the traditional banking market includes both construction financing as well as long-term financing after completion.”