Sveafastigheter divests all remaining condominiums in Copenhagen

STOCKHOLM 12 FEBRUARY 2016

Sveafastigheter Fund III (”Sveafastigheter”), in co-operation with local asset management partner North Property Asset Management, has divested 53 modern and well situated condominiums in Copenhagen and Lyngby to Alma Property Partners. The transaction was closed on February 11, 2016.

The sale comprises the last remaining condominiums in Denmark. The original portfolio included 300 condominiums, acquired in 2012 and 2013. About half of the condominiums were sold one-by-one to the private market and the rest through three separate deals.

Mikael Pehrsson, Sveafastigheter says:
“We are very pleased to complete the sale of the last remaining condominiums in Denmark and to finalise the fourth portfolio sale out of Sveafastigheter Fund III. We have managed to generate excellent returns to our investors thanks to a solid business plan and an active local asset management. Despite the fact that we are selling our assets in Denmark we do see it as an interesting market for future investments.”

Catella Denmark, Bruun & Hjejle and Horten were the seller’s adviser in the transaction. Accura advised the buyer.

Sveafastigheter Fund III was launched in 2010 and closed for investments in 2011, with EUR 317 million of equity commitments. The fund is focused on real estate with potential for value creation in Sweden, Denmark, Finland and Estonia. Four portfolios (Grocery Stores Finland, Högkullen Assisted Living, Park Vallila and Copenhagen Residential) out of the original twelve are now successfully divested.

For comments and further information, please contact:

Sveafastigheter
Mikael Pehrsson
Partner
+46 8 545 075 19
mikael.pehrsson@sveafastigheter.se

Johan Tengelin
Partner and CEO
+46 8 545 075 14
johan.tengelin@sveafastigheter.se
 

Sveafastigheter
Sveafastigheter was founded in 2003. The business model in short is to establish and manage multiple independent property investment platforms in the Nordics. The daily work embraces transactions, asset management, project- and property development and financing. 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. www.sveafastigheter.se www.brunswick-re.com

North Property Asset Management
North Property Asset Management (“North”) is a real estate asset manager with a total managed portfolio of DKK 2 billion containing both commercial and residential. North has 7 employees and is located in Copenhagen.