Hemfosa, Crown Nordic buy 28-strong package in Sweden

Swedish property company Hemfosa has joined forces with Crown Nordic Management to acquire a portfolio of 28 commercial assets from Area Real Estate for SEK 1.28 bn (€143 mln).

The 28 office and logistics properties are centrally located in growth areas in southern and central Sweden, with 36% of the assets by value situated in the Stockholm region. The package has a total lettable area of 142,180 m2 and generates rents of SEK 155 mln.

Hemfosa and Crown Nordic Management are buying the assets on a 50-50 basis.

'This is a deal that suits Hemfosa very well [...] and we see good opportunities to improve the quality of the assets and to increase the occupancy rate. Because they are management-intensive assets, we are pleased to conclude the deal with Crown Nordic Management which has extensive experience in management and project development,' commented Jens Engwall, president of Hemfosa.