Private equity firm NREP's Nordic Strategies Fund has joined forces with Swedish real estate company TAM to acquire Brunna Park, a retail development project in Stockholm from HSB Bostad.

Private equity firm NREP's Nordic Strategies Fund has joined forces with Swedish real estate company TAM to acquire Brunna Park, a retail development project in Stockholm from HSB Bostad.

Financial details were not disclosed.

Following a recently adopted zoning plan, the area will undergo a major transformation including the development of the retail park on the acquired site as well as substantial residential developments on neighbouring properties.

Coop Forum and Biltema will be the first tenants to open their stores in Brunna Park and leasing efforts are under way for additional development phases.

'We are pleased to enter this project together with TAM, to create a shopping destination for everyday goods which Upplands-Bro is currently lacking,' commented partner Tobias Alsborger from NREP’s Stockholm office.