Swedish property manager Profi Fastigheter said it has changed its name to Revelop to reflect the company’s focus on sustainability and has raised SEK2.1bn (€206.9m) for its fifth value-add fund.
The company said the Revelop V fund, which received capital commitments from Swedish and international investors at its final close, is the property company’s largest to date and the largest Swedish value-add real estate fund in seven years.
Thomas Sipos, CEO of Revelop, said: “With our new name, we want to clarify our investment philosophy and the strategy to invest in real estate that we can reposition in a sustainable way. Thereby we can make a positive impact and contribute to a new, more sustainable society.”
Anders Sylvén, Revelop’s CFO and VP, said: “Revelop alludes to the motto of extending the life of buildings, creating attractive places and focusing on efficient use of resources by adopting a circular approach.
“We think differently and invest in the existing urban environment next to existing infrastructure where we see opportunities for positive change through refinement and densification.”
To read the digital edition of the latest IPE Real Assets magazine click here.