Vendus Sweden is acquiring a 51-asset Swedish retail property portfolio worth SEK2.7bn (€248m) in a deal that will see ICA Fastigheter and Bonnier Fastigheter become shareholders in the company alongside existing majority owner Nordika.
The deal involves Vendus acquiring 35 properties from Trecore Fastigheter, which is owned by ICA Fastigheter and Bonnier Fastigheter, for SEK1.7bn.
The Swedish real estate company will also buy 16 properties directly from ICA Fastigheter for SEK1bn.
The acquired properties, which are let to grocery retailer ICA, raises Vendus’s underlying property value to approximately SEK6.4bn, with around 81% of rental income derived from grocery retail and an economic occupancy rate of approximately 97%.
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