Swedish property manager Revelop has invested SEK850m (€84m) to buy 17 properties, in a deal that increases the manager’s presence in new markets.
The company, which recently raised SEK2.1bn for Revelop V, its fifth value-add fund, said the properties were acquired in eight separate transactions.
The properties, mainly located in the Gothenburg and Malmö metropolitan areas, comprises 50% industrial, 30% mixed-use and 20% offices.
Thomas Sipos, CEO of Revelop, said: “In line with our long-term strategy, the acquired properties give us the opportunity to reposition properties in an environmentally conscious way and thereby contribute to a more sustainable society. We will invest significantly and take the properties from brown to green.”
Revelop said it will also initiate rezoning and concept design to create conditions for the development of affordable housing. It also plans to continue the roll-out of its flexible offices and co-working concept C/O in the assets where it is suitable.
“We already operate five C/O facilities in the Stockholm metropolitan area. With these acquisitions, we will open two new C/O facilities – one in Gothenburg and one in Helsingborg, said Sipos.
As a result of the latest acquisitions in Gothenburg, Revelop now owns over 60,000sqm of lettable area in the region.
Formerly known as Profi Fastigheter, the property manager recently changed its name to Revelop ”to reflect the company’s focus on sustainability”.
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