Sveafastigheter acquires seven grocery stores in Finland

Sveafastigheter Fund III has signed an agreement to acquire seven grocery stores in Finland. The acquisition is made in co-operation with local asset management partner Capitol Asset Management. Acquisition finance has been provided by Nordea.

Sveafastigheter Fund III (”Sveafastigheter”) and Capitol Asset Management (“CAM”) acquire a portfolio of seven properties. The properties in the hypermarket and convenience store segment are small to mid-sized and geograpically dispersed in Finland. The total lettable space amounts to approximately 6,000 square metres with Ruokakesko as the sole tenant. The properties fit well with the grocery store portfolio owned by Sveafastigheter and CAM. The seller is Aberdeen Property Fund Finland I Ky, a property fund managed by Aberdeen Asset Management Finland Oy.

- We are very pleased with this transaction. The acquired assets complement the grocery portfolio which we already own. We will continue to look for opportunities in the grocery store segment and develop the portfolio in close co-operation with the tenant, comments Patrick Gylling, partner at Sveafastigheter.

- The acquired assets constitute a valuable addition to our portfolio and fit well into our investment strategy. Our objective is to create a portfolio with stable and long dated cash flow streams as well as well diviersified by lease duration, comments Jarkko Lehtonen, CEO at Capital Asset Management.       

Legal advisor to the buyer was Krogerus Attorneys.


For comments and further information, please contact:

Patrick Gylling, partner and CIO, Sveafastigheter, phone +358 40 542 6397, patrick.gylling@sveafastigheter.fi

Jarkko Lehtonen, partner and CEO, Capitol Asset Management, phone +358 50 349 1606, jarkko.lehtonen@capitol.fi

Sveafastigheter

Sveafastigheter is a leading Nordic property fund manager. The first opportunistic real estate fund, Sveafastigheter Sverige I, was launched in 2003. In 2006 Sveafastigheter launched its second fund, Sveafastigheter Fund II. In February 2011, Sveafastigheter Fund III held its final closing reaching EUR 317 million of commitments in aggregate. The third fund has to date made eight investments.

Sveafastigheter is based in Stockholm with offices in Helsinki and Malmö.

Capitol Asset Management

Capitol Asset Management operates as a local asset management partner to Sveafastigheter, focusing on the grocery store segment in Finland. The company was founded in 2011 by Jarkko Lehtonen and Jaakko Sinnemaa, both with a vast experience in grocery store real estate and with a background in Kesko Plc.

 

 

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About Us

Sveafastigheter is a leading Nordic property investment manager, founded in 2003. The business model in short is to offer clear and attractive property investment programs, where we can add value through active asset management. Today’s offering spans separate investment mandates and property funds to residential development. Currently, assets under management amount to EUR1 billion. The operation embraces transactions, asset management, project- and property development and financing. Read more at www.sveafastigheter.se Sveafastigheter is the investment management arm of Brunswick Real Estate - a group of market leading companies within corporate finance, transactions, investment management and debt financing focusing on real estate in the Nordics. Read more at www.brunswickrealestate.com

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