Pictet Alternative Advisors and Brunswick Real Estate in partnership to form data centre platform across the Nordics, starting with 63,000 sqm asset in Stockholm
2020-12-15
The investment strategy is seeded with the acquisition of Vanda 3, a 63,000 sqm mixed-use property in Stockholm acquired from Bonnier Fastigheter
Pictet Alternative Advisors’ (“Pictet”) value-add real estate strategy and Brunswick Real Estate (“Brunswick”) have entered into a partnership to focus on investing in and developing sustainable data centres across the Nordic region. The team will look to acquire existing properties as well as data centre development opportunities, utilising Brunswick’s track record, local expertise and network of experts to add further value.
The Nordics is the ideal location for data centres due to its natural cooling, low carbon energy mix and excellent connectivity. Over the past decade, over 200 data centres have been established with a number of major international technology companies developing facilities in the region including Facebook, Microsoft and Google.
Vanda 3 is a 63,000 sqm mixed-use property in Stockholm which includes data centre, printing facilities, warehouse and offices. The property is well positioned in the northern suburbs of Stockholm and offers a number of development opportunities to add further value. With tenants operating in power intense sectors, Vanda 3 benefits from excess heat recovery and distribution to the district heating system of Stockholm, thus reducing the carbon footprint. The property was acquired from Bonnier Fastigheter. Senior financing for the acquisition was provided by Helaba.
Patrik Andersson, Partner and CEO, Brunswick Real Estate, commented:
“The establishment of the partnership with Pictet provides an unparalleled opportunity for Brunswick to use its local expertise in a nuanced market to deliver strong returns. Our active approach to managing assets through development and measurable sustainability improvements is also in line with Pictet’s value-add strategy. We look forward to working with the team as we continue to look for further acquisition and development opportunities across the Nordics.”
Alexander Thams, Head of Nordic Real Estate, Pictet Alternative Advisors, added:
“Pictet is excited to launch its investment strategy in the Nordic region. The Nordics is of strategic importance for Pictet and we aim to deploy up to SEK 5 billion in the region. Our objective is to keep growing our footprint in the data centre space following this landmark acquisition. We are delighted to partner with a high-quality team such as Brunswick and are encouraged that they also share our commitment to developing sustainable properties which have a meaningful impact on the environment. The data centre market in the Nordics has significant potential due to its natural cooling and stable business environment and we look forward to working with Brunswick to deliver on our shared ambitions.”
Tomas Hermansson, CEO Bonnier Fastigheter, commented:
”It feels great to hand over the responsibility to such credible players as Brunswick and Pictet. Vanda 3 is a unique property in a great location and I am convinced that the new owners will manage and continue to develop the property in a good way. Bonnier Fastigheter currently has a large development portfolio and the divestment of Vanda 3 will timely free up resources for our new exciting projects such as Portalen and Pirhuset in Värtahamnen, Stockholm and Munin NXT in Uppsala.”
For more information:
Sara Svedjedal (Brunswick Real Estate)
t. +46 70 782 24 90
e: sara.svedjedal@brunswickrealestate.com
Rob Yates (Edelman Smithfield)
t. +44 (0)7715 375 443
e: ryates@smithfieldgroup.com
Helena Winje (JKL Group)
t. +46 70 204 94 85
e: helena.winje@jklgroup.com
Isabelle Düblin (Pictet Group Corporate Communications)
t. +41 58 323 7794
e: idueblin@pictet.com
About Brunswick Real Estate
Brunswick is one of the Nordic region’s leading real estate investors, offering investment management services across investment and debt. Brunswick builds independent, sustainable investment platforms, focused on targeted investment strategies, working closely with Nordic and international investors as well as local partners. The team comprises about 60 people in Stockholm, Helsinki and Copenhagen.
About The Pictet Group
The Pictet Group is a partnership of seven owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management, alternative investments and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With USD 624 billion in assets under management or custody at 30 September 2020, Pictet is today one of the leading Europe-based independent wealth and asset managers.
Headquartered in Geneva, Switzerland and founded there, Pictet today employs over 4,600 people. It has 30 offices worldwide including Stockholm.
About Pictet Alternative Advisors
Pictet Alternative Advisors is a separate entity within the Pictet Group responsible for investments in hedge funds, private equity and real estate. Pictet Alternative Advisors employs close to 100 alternative investment specialists and manages USD 31 billion. Pictet’s Direct Real Estate activity is managed by a team of 14 professionals, and led by Zsolt Kohalmi who has an extensive track record of transactions in the Nordics.
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