Sveafastigheter and Mattila & Saxen Property Partners have created a big box retail property portfolio in Finland for approx. €50 million

Sveafastigheter’s third fund, Sveafastigheter Fund III, has together with its local asset management partner Mattila & Saxen Property Partners created a big box retail property portfolio in Finland by acquiring ten properties for approx. €50 million.

In May and June 2011, Sveafastigheter Fund III (”Sveafastigheter”) has together with Mattila & Saxen Property Partners (”Mattila & Saxen”) acquired a total of ten big box retail properties with a total lettable area of approx. 55,000 sqm. The properties were acquired from five different sellers in five different transactions. The properties are all located in excellent retail location in eight different cities; Heinola, Hämeenlinna, Joensuu, Parainen, Porvoo, Rovaniemi, Vaasa and Vantaa.

- We have together with our partner Mattila & Saxen been able to create a well-diversified retail portfolio with a strong cash flow. These types of properties are difficult to finance on a stand-alone basis, but by lining up a number of different sellers and syncronising the execution of the acquisitions, we have been able to secure financing on good terms with Nordea. We are continuously analysing additional acquisition opportunities as our intention is to further grow this portfolio, says Jonas Ahlblad, director at Sveafastigheter.

- This is a very interesting portfolio of retail properties in excellent micro-locations. The properties are occupied by a good mix of retail chains with long average leases. Through active management and by investing in the properties we believe we can further improve the properties and make them more attractive for the customers of our end users, says Teemu Saxén, partner at Mattila & Saxen Property Partners.

Sveafastigheter

Sveafastigheter is a leading Nordic private equity firm focusing solely on real estate investments. The first opportunistic real estate fund, Sveafastigheter Sverige I, was launched in 2003. In 2006 Sveafastigheter launched its second fund Sveafastigheter Fund II, and Sveafastigheter Fund III was closed in February 2011 with €317 million in total commitments.

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

Mattila & Saxen Property Partners

Mattila & Saxen is a Finnish real estate company specialised in offering solutions to property users and tenants within the retail segment. Key clients include domestic and foreign tenants. The company buys properties where it can add value through its competence. Mattila & Saxen’s intention is to build, together with Sveafastigheter, a significant portfolio of commercial real estate in the coming years.

For comments and further information, please contact:

Jonas Ahlblad, Director at Sveafastigheter, phone +358 50 563 7667, jonas.ahlblad@sveafastigheter.fi

Teemu Saxén, Partner at Mattila & Saxen Property Partners, phone +358 40 865 4540, teemu.saxen@mspp.fi