Allianz Real Estate is investing SEK7.9bn (€779m) for a stake in a €3bn Swedish residential portfolio owned by Heimstaden Bostad.
The partnership gives Allianz exposure to a 99-asset residential portfolio acquired by Heimstaden Bostad from Akelius. The 9,300 units portfolio includes assets in Stockholm and Malmö.
Annette Kröger, the CEO North and Central Europe for Allianz Real Estate, said: “We are very pleased to enter into this joint venture covering such a well-diversified, sizeable portfolio.
“Our renewed interest in the residential sector is a deliberate adjustment to our investment strategy; the sector’s stability makes the sector highly attractive to long-term investors. The fundamentals in the Nordics are strong, the residential market is well-established and we have actively targeted growth in this region.”
Nicole Pötsch, the head of acquisitions and sales North and Central Europe at Allianz Real Estate, said: “We very much appreciate Heimstaden’s entrepreneurial approach and tenant-centricity combined with a joint view on ambitious ESG targets that we would like to realize for this portfolio.”
Patrik Hall, CEO Heimstaden, said: “We are pleased to partner with Allianz, which is a global and reputable long-term investor with significant experience within the real estate sector.
“Their substantial investment and long-term commitment show trust and confidence in our platform and operational expertise, and we look forward to building a strong and lasting partnership.”
Magnus Nordholm, deputy CEO and head of ECM at Heimstaden, said: “Allianz is the fourth investor to partner with Heimstaden Bostad in 2021, further strengthening our capital structure and our position as a leading European residential real estate company.”
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