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Brunswick Real Estate divests grocery store portfolio in Sweden

Investments, Press Release

Stockholm, 8 November 2018
Brunswick Real Estate, on behalf of Sveafastigheter Fersen II AB, has divested a 50-property portfolio to the listed property company Tre Kronor. Total gross asset value amounts to SEK 903 million.

On 7 November 2018, Brunswick Real Estate completed the sale of the Grocery Stores Sweden (“GSS”) Portfolio to Tre Kronor Property Investment AB (publ) (“Tre Kronor”) at a total gross asset value of SEK 903 million. The portfolio comprises 50 assets, including 43 grocery stores, and a total retail area of 69,000 sqm. The assets are located all across Sweden, with an emphasis on smaller regional cities in the southern and mid parts of the country. ICA is the largest tenant, followed by Coop and Axfood.

Sveafastigheter Fersen II AB, co-owned by global private markets investment manager Partners Group, on behalf of its clients, and Brunswick Real Estate, has held the portfolio since 2016. Brunswick Real Estate and Partners Group have been responsible for the management of the portfolio together with Scius Partners as local asset management partner.

Annika Fridolf, Fund Manager at Brunswick Real Estate says: “The divestment of the GSS Portfolio is a great example of a well-executed business plan. Since 2016 we have completed strategic add-on acquisitions to the portfolio, renegotiated and extended lease agreements, and made relevant investments in the properties. We are happy to divest a well-positioned portfolio to the growing company Tre Kronor.”

Wistrand Advokatbyrå acted as Brunswick Real Estate’s legal counsel.

For more information please contact:
Annika Fridolf Brunswick Real Estate, Investments
Phone: +46 731 25 15 05

Brunswick Real Estate is a market leading investor and lender in the Nordics, investing across the entire capital structure.

Investments includes a wide range of private equity structures, from separate investment mandates in commercial real estate together with large institutions and international managers to residential development. Debt includes credit financing funds focused on secured financing of commercial real estate in the Nordic region. Ventures offers opportunistic investment ideas within real estate, ranging from seed capital to traditional property investments.

The team includes approximately 50 employees in Stockholm, Helsinki and London.