Sveafastigheter expands the Assisted Living Portfolio
Sveafastigheter Fund III AB (”Sveafastigheter”), together with its partner Residenset, acquire four LSS-properties from HSB Värmland, thereby expanding the Högkullen Assisted Living portfolio to 90 properties.
The properties are located in Säffle, Kil, Karlstad and Hammarö, Sweden, and are excellently complementing the existing portfolio where about 85 per cent of the tenants are municipalities or county councils. Högkullen Assisted Living is mainly owned by Sveafastigheter with Residenset as minority owner and asset manager. Högkullen Assisted Living took possession of the properties on 31 January, 2014.
– As of today, Högkullen is Sweden’s largest private property owner of LSS residentials and we plan for further expansion. Our aim is to strengthen our leading position and by capitalising on scale we can increase the quality and service level for both tenants and residents, says Mikael Pehrsson, Senior Associate at Sveafastigheter.
NAI Svefa has been advisor to the seller, while MAQS and PwC have been the buyer’s advisors for the transaction.
LSS refers to the Swedish Law about support and service to disabled persons (Lagen om stöd och service till vissa funktionshindrade 1993:387), which aims to provide good living conditions for disabled persons. LSS residentials are smaller, suited group- or service homes with access to professional assistance.
For comments and further information, please contact
Mikael Pehrsson, Senior Associate, phone +46 8 545 075 19, mikael.pehrsson@sveafastigheter (mikael.pehrsson@sveafastigheter.se).se
Johanna Skogestig, Head of Investments Sweden, phone +46 8 545 075 17, johanna.skogestig@sveafastigheter.se