Sweden's AP3 invests in residential property portfolio

Tredje AP-fonden (AP3), Sweden’s third national pension fund, and Fastighets Balder have bought a portfolio of Swedish residential property assets.

The portfolio of 21 residential properties was sold by Aberdeen for SEK2bn (€213m).

The 71,000sqm portfolio includes around 1,200 apartments in Stockholm and Öresund.

Erik Selin, chief executive at Fastighets Balder, said: “This portfolio fits very well into our long-term investment in housing, together with the Third Swedish National Pension Fund.”

AP3 last year took a 50% stake in Hemsö, a subsidiary of real estate firm Kungsleden. 

The transaction covering 239 properties was valued at around SEK14.6bn.

Sweden’s AP1 and AP2 and US institution TIAA-CREF last year announced the pooling of their European real estate portfolios to create a €4bn joint venture. 

The Swedish buffer funds seeded the new entity with six properties managed by Cityhold Property.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2511

    Asset class: Commodities.
    Asset region: Global.
    Size: $10m.
    Closing date: 2019-02-25.

Begin Your Search Now