Alecta, the Swedish pension occupational pension manager, has mandated JLL's Global Capital Markets team to arrange the sale of a global office, retail, multifamily and industrial portfolio.
The institutional-grade portfolio is comprised of 48 assets across the United States and UK, featuring what JLL descibes as best-in-class assets with exceptional diversity in terms of class, lease maturity and geography.The UK assets includes industrial, office, big box and high street retail located in and around London.
No indication price has been disclosed for the portfolio.
Alecta, which has some €75 bn of assets under management across a range of asset classes, said that the assets being offered for sale do not fit with the group's overall holdings.
The sales process has been time to tap into the huge demand for real estate globally. 'Our foreign operations have been extremely successful in consistently generating above average returns but they have always been a bit of an organizational anomaly in our streamlined business which prioritizes economies of scale within our investment strategy,' said Per Frennberg, chief investment officer of Alecta. 'The current strong demand for global real estate offers a good opportunity for us to take yet another step in our development towards our vision, to be the most efficient occupational pension fund in the world.'
International director Peter Nicoletti is leading the JLL team's marketing efforts. 'A portfolio of this scale, which features exceptional tenancy and world-class diversity, offers investors an opportunity to deploy a significant amount of capital in safe haven markets across two of the world’s most stable economies,'said Nicoletti.
'Portfolio sale volumes are expected to trend upward in the year ahead as investors seek opportunities for an immediate global footprint. This portfolio offers them a unique positon to do just that, while also capturing strong, consistent returns substantially ahead of their competitive sets,' concluded Nicoletti.
