Ancore Fastigheter, a joint venture between Swedish retailer ICA and pension fund Alecta, has acquired the Ljusta 7:5 commercial property in Sundsvall and Skårby 3:31 in Kungsbacka for SEK 450 mln (EUR 50 mln). The vendor was ICA's real estate unit.
Ancore Fastigheter, a joint venture between Swedish retailer ICA and pension fund Alecta, has acquired the Ljusta 7:5 commercial property in Sundsvall and Skårby 3:31 in Kungsbacka for SEK 450 mln (EUR 50 mln). The vendor was ICA's real estate unit.
The building, offering 22,000 m2 of space, is mostly leased to ICA Maxi.
'These commercial properties are modern and located in established business locations with long leases to Ica. This makes them an excellent investment for Alecta,' said Kent Jonsson, who is responsible for indirect property investments at Alecta.
'The sale will free up capital that can be invested in the ICA's store network while maintaining control of these two market places,' added Lena Boberg, president ICA Fastigheter, the property arm of ICA.
Catella Corporate Finance acted as financial advisor in the transaction.
Ancore was formed as a joint venture between ICA and Alecta in late 2010 with the aim to acquire and own property in which ICA is the main tenant.
