Tre Kronor buys SEK903m grocery store portfolio from Brunswick
Tre Kronor Property Investment has acquired a SEK903m (€88m) grocery store portfolio in Sweden from a Brunswick Real Estate fund.
Brunswick Real Estate said it sold the 50-property Grocery Stores Sweden (GSS) portfolio on behalf of Sveafastigheter Fersen II to the listed firm.
Sveafastigheter Fersen II fund is co-owned by investment manager Partners Group, on behalf of its clients. The fund has held the portfolio since 2016.
Brunswick and Partners Group have been responsible for the management of the portfolio together with Scius Partners as local asset management partner.
The portfolio comprises 50 assets, including 43 grocery stores, and a total retail area of 69,000sqm.
Annika Fridolf, a fund manager at Brunswick Real Estate said: “The divestment of the GSS Portfolio is a great example of a well-executed business plan.
”Since 2016 we have completed strategic add-on acquisitions to the portfolio, renegotiated and extended lease agreements, and made relevant investments in the properties. We are happy to divest a well-positioned portfolio to the growing company Tre Kronor.”