Swedish real estate investor Revelop has secured new equity capital commitments exceeding SEK2.4bn (€210m) for its latest value add fund.
The capital was raised for Revelop VI was secured from a combination of existing and new institutional investors, with the majority being international, Revelop said.
Revelop’s latest fund follows Revelop V which announced a SEK2.1bn capital raise in May 2021.
Revelop VI has begun deploying funds with the acquisition of 11 assets comprising 70,000sqm, representing SEK1bn in asset value. In a separate deal, Revelop purchased a portfolio of real estate assets from Castellum located across Stockholm and Gothenburg, in ”strong urban transformational locations”, the manager said.
“These acquisitions are a result of our proactive research driven sourcing, local market knowledge and conviction in our carefully selected investment themes. Revelop’s sector agnostic investment strategy is to acquire assets with value-add potential in sub-markets with strong structural growth,” said Thomas Sipos, group CEO and executive partner at Revelop.
He said that Revelop has ”a long track-record of outperformance from investing in urban industrial, mixed-use and social infrastructure assets with repositioning and development potential”.
Sipos added: “In a challenging fundraising environment, I’m humbled and grateful for the support from both existing and new investors. It shows strong investor interest for Swedish value-add real estate and that investors back managers with a sustainable business model and strategy.
”I’m excited about the market opportunity in Sweden, where we now can acquire undermanaged assets at very attractive entry values. Strong growth prospects for the Swedish economy, combined with significant infrastructure investment, reindustrialisation and FDI, creates interesting times for value-add investments.”
Revelop targets assets that can be future proofed through various ESG initiatives including significant reduction in carbon footprint, improved energy performance and environmental certifications as well as creating positive social impact, the company added.
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