Stockholm, November 27 2018
Brunswick Real Estate and Allianz Real Estate have signed a MSEK 1,560 (MEUR 150) credit facility to finance investment grade rated Atrium Ljungberg (publ), one of Sweden´s biggest listed property companies. The loan is backed by Gränbystaden Galleria with over 70 shops and c. 7 million visitors per year. The university town of Uppsala is the fourth largest city in Sweden and the area Gränbystaden is in the process of being integrated as the second city centre of Uppsala.
Martin Lindqvist, CFO at Atrium Ljungberg, said:
“As part of our work to widen our financing base and at the same time gain access to longer term capital commitment, we have chosen to sign a loan with a maturity of approximately ten years. This is a good complement to the bank financing we already have in place and it gives us access to a longer capital commitment than the banks can normally offer.”
Aksel Lundquist, Fund Manager at Brunswick Real Estate, said:
“We appreciate Atrium Ljungberg’s professional asset management skills and long term investment horizon. Gränby Centrum is one of the best performing shopping centres in Sweden and we are pleased to assist Atrium Ljungberg in the continued development of Gränbystaden as a city district where people want to be, today and tomorrow.”
Louise Richnau, Partner at Brunswick Real Estate, said:
“We see increased interest from borrowers for unlevered, long term institutional capital. Dealflow since the final close of BREC II in June this year has been exceptional. With increased commitments and a wider scope, we can provide even better diversification and loan selection for our investors.”
Brunswick Real Estate held the final close of its second senior debt fund in the Nordics in June 2018, thereby reaching over SEK 8.5 billion (MEUR 830) under management. Main investors are some of the region’s largest institutions.
For more information please contact:
t. +46 70 346 22 19
t: +46 73 089 97 12