Slättö, a Nordic real estate investment fund, launched a platform to invest in public use real estate in Sweden through the acquisition of a €300m portfolio.
Slättö Core+, a fund launched in 2019, is purchasing the 936,460sqft property portfolio from Estea Omsorgsfastigheter. The properties are located in large municipalities in Sweden with a focus around Stockholm and Gothenburg.
The portfolio consists mainly of care homes for the elderly, with a remaining lease duration of about nine years.
Through the acquisition from Estea, Slättö has been able to establish public use as a new business sector, supplementing the company’s existing themes in Nordic residential, logistics and light industrial as well as hotels.
This acquisition fits well into the Slättö Core+ existing portfolio with a focus on strong, sustainable cash flows, the investor and manager said.
“Slättö has previously invested in selective acquisitions and projects within the public-use segment. We have a strong belief in future demand for these types of assets and look forward to managing and developing this portfolio, as well as assessing further investments in public use”, said Erik Dansbo, senior partner and CIO at Slättö.
He added that the portfolio, where 70% of the properties are environmentally certified, further enhances the fund’s sustainable position.
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