Slättö enters into a joint venture with K2A and acquires 40% of a purpose-built student housing portfolio valued at SEK 3.1 billion (EUR 270 million)

A fund managed by Slättö has agreed to acquire a 40% stake in a high-quality student accommodation portfolio with assets strategically located across Sweden's university cities. The acquisition is made through a joint venture with the Swedish real estate company Knaust & Andersson Fastigheter AB (publ) (“K2A”).  

This marks the first investment by Slättö’s new fund in the Value-Add strategy series.  

The student housing portfolio is valued at SEK 3.1 billion (EUR 270 million) and comprises 3,000 student housing units totaling 72,000 sqm lettable area. The assets have excellent locations close to universities and are of high standards, with 75% of the properties being newly built.   

Jonas Andersson, Deputy Managing Partner at Slättö, says: "The transaction constitutes the first investment made by Slättö’s new fund in the Value-Add strategy, through which Slättö continues to offer strong risk adjusted returns to our investors. This acquisition further strengthens our position as one of the few players capable of seizing opportunities in an uncertain market and realizing complex deals. Our conviction is that 2024 will be an exceptionally strong fund vintage, given the price correction undergone in the Nordic market, and strong deal flow we’re experiencing from sellers looking to transact off-market." 

Christian Bratt, Partner and Head of Residential at Slättö, comments: "The current combination of rental growth potential and entry pricing makes this an attractive time to invest in residential. We see great value in acquiring a purpose-built, high-quality student accommodation portfolio rarely available on the Swedish market. Students enrolled in education programs eligible for student financial aid also have a predictable financial situation, making this a secure investment with great potential. We look very much forward to cooperating with K2A to effectively manage and further improve the portfolio".  

The portfolio has a strong sustainability profile, with 96% of the assets currently environmentally certified or in the process of being certified. Furthermore, 79% of the assets meet the energy efficiency limits of the EU Taxonomy and 76% have on-site renewable energy production, with potential to increase this to over 80% through energy investments. 

K2A will continue to manage the portfolio on behalf of the joint venture company. 

Slättö was advised by Roschier, Svalner and PropCon in this transaction.  

About Slättö:  

Slättö is a private equity real estate investor with a Nordic focus. We seek to deliver consistent market-leading returns for our investors through thematic strategies, local expertise, clear values and a committed team. The Slättö funds collectively manage assets of EUR 2.5bn. Since inception in 2013, the firm has executed +200 transactions with a total transaction value of EUR +4bn. With a forward-looking approach, we prioritise sustainability as key to the long-term success of our investments. www.slatto.se.  

For further information, please contact:  

Christian Bratt, Partner and Head of Residential    
Tel: +46 72 452 76 79 
E-mail: christian.bratt@slatto.se  

Jonas Andersson, Deputy Managing Partner  
Tel: +46 70 770 59 74  
E-mail: jonas.andersson@slatto.se  

Annachiara Torciano, Head of ESG and Communications   
Tel: +46 76 696 25 88   
E-mail: annachiara.torciano@slatto.se