Global private markets firm Partners Group has entered into an agreement to sell a Swedish retail warehouse portfolio to Svenska Handelsfastigheter for SEK 1.3 bn (€110 mln).
The portfolio was held in the Sveafastigheter Fersen and Sveafastigheter Fersen II structures and has been managed by Brunswick Real Estate on behalf of Partners Group since 2015. Closing of the transaction is planned for 30 May 2024.
The high-quality portfolio representing 85,200 m2 of retail space comprises seven properties located in Västerås, Kalmar, Österåker and Kristianstad. It is dominated by discount retailers with Bauhaus, Willys, XXL, Rusta and EKO amongst its largest tenants. It is 95% let with an average remaining contract period of 4.8 years.
'We are pleased to have executed this transaction on behalf of Partners Group. Over the last several years, we have implemented significant asset management initiatives, including securing large anchor tenants, the redevelopment of 8,500 m2 retail space in Västerås as well as the development of three fast food restaurants to further strengthen local service offerings,' commented Annika Fridolf, CEO of Fersen and Partner at Brunswick Real Estate.
Jan Hannappel, member of Management, Private Real Estate Europe at Partners Group, added: 'Following the sale of our Finnish holdings to Nyfosa back in 2022, we are pleased to report another major exit in the Fersen structures.'
Colliers and Kilpatrick acted as sell-side advisors in the transaction.
