EQT Real Estate has added a 21-asset portfolio of urban logistics properties in Stockholm and surrounding university cities to its portfolio.

The seller Kvalitena will retain a minority stake and will continue to asset manage the properties. Financial details were undisclosed.

EQT said the plan is to grow the portfolio together with Kvalitena.

Henrik Orrbeck, managing director at EQT Partners and investment advisor to EQT Real Estate, said: “The portfolio very well accentuates the focus of EQT Real Estate – buying and building real estate portfolios around selective investment themes and transforming them to high-quality platforms offering long-term risk-adjusted returns to institutional investors.

“EQT has a detailed plan for each property and looks forward to launching these initiatives together with Kvalitena.”

Robert Rackind, partner and head of real estate at EQT Partners, said: “This off-market transaction represents a rare opportunity to build a platform around the supply-constraint urban logistics sector with an experienced partner.

“The acquisition is in line with EQT Real Estate’s strategy to future-proof cities by providing flexible warehouse space to expansive e-commerce, distribution and exportation-driven industrial firms.”

The latest investment is EQT Real Estate’s 12th to date and fourth in Sweden