Teacher Retirement System of Texas and Brunswick Real Estate have set up a new real estate company to invest in last-mile and light-industrial properties in Sweden.
The $210bn (€181.2bn) US public pension fund has teamed up with Brunswick and the founding management team to launch Enreal, which already holds a portfolio of ten properties.
The newly created company will focus on properties in the largest cities of Sweden.
Enreal’s portfolio of approximately 20,000sqm of leasable area is located in last-mile and light industrial submarkets of Stockholm and in central Uppsala.
David Hävermark, CIO and partner of Brunswick, said: “We are proud to welcome TRS, one of the world’s largest pension funds, as a new capital partner to Brunswick and jointly launch Enreal. With Enreal, we see a clear role for us in developing and improving this sought-after segment of the market.
“During the spring, we built a well-located seed portfolio through several acquisitions, and with a strong pipeline we look forward to continuing to grow the platform.”
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