Pareto has established a listed grocery anchored real estate specialist in the Nordic market
Cibus Nordic Real Estate AB (publ), a newly established company has acquired grocery anchored real estate assets from Sirius Fund I Grocery and Sirius Fund II comprising 123 grocery stores across southern Finland. The portfolio includes a gross lettable area of approx. 440,000 square metres.
The property portfolio is valued at EUR 767 million and anchored by the market leading grocery players Kesko (KESKOB), S-Group and Tokmanni (TOKMAN). The acquisition was financed with a share issue of approximately EUR 311 million. In connection with the acquisition, Cibus obtained senior unsecured bond financing of EUR 135 million and bank financing of EUR 308 million.
The company will be managed by Lisa Dominguez Flodin (CEO) and Sirius Capital Partners. Rickard Backlund acts as chairman of the board.
- Cibus is positioned for growth with its strong micro locations, grocery anchored cash flow and logistic characteristics. Adding the increase of postal and parcel shipments underpins the importance of these assets in an environment with increasing e-commerce volumes, says Rickard Backlund, chairman of the board.
- This marks an interesting new beginning for the portfolio as well as for us at Sirius too. We are very pleased to have achieved a long-term ownership structure for what we view as a unique portfolio providing stable, long-term cash flow. We are impressed by Pareto's execution capability and very pleased with the co-operation during this transaction, says Patrick Gylling, CEO and Partner at Sirius Capital Partners.
In connection with the transaction Pareto raised EUR 446 million in debt and equity from investors including leading institutions, money managers and reputable family offices spread across more than 18 countries.
- The execution of one of the largest sole IPO’s ever conducted in Sweden truly underpins our ability to identify interesting investment opportunities and raise both equity and debt capital on the back of these, says Stefan Gattberg, Head of Corporate finance and Project finance at Pareto.
Cibus Nordic Real Estate AB is scheduled to be listed on NASDAQ First North Stockholm on March 9, 2018, becoming the only listed real estate company in the Nordics to solely cover the daily goods sector.
For further information, please contact:
Stefan Gattberg, Pareto Securities (+46 8 402 5122)
Pareto Securities is an independent full service investment bank with a leading position in the Nordic capital markets and a strong international presence within the energy sector. Pareto Securities AB offers Swedish and foreign institutions, companies and private individuals investment services related to trading in stocks, shares in SPV’s and fixed income instruments, wide coverage both within equity- and credit research. Furthermore, Pareto Securities corporate finance offers ECM, M&A and DCM services as well as arrangement and syndication of new investment projects, arrangement and syndication of sale and leaseback structures within real estate, infrastructure and shipping/offshore. Pareto Securities AB is part of the Pareto Securities group and is headquartered in Oslo, Norway, with more than 400 employees located in offices in Norway, Sweden, Denmark, Finland, United Kingdom, France, Germany, USA, Singapore and Australia.