Nordic private equity firm Sveafastigheter and local asset manager Capitol Asset Management have signed an agreement to acquire seven grocery stores in Finland from Aberdeen Property Fund Finland I, a property fund managed by Aberdeen Asset Management Finland.
Nordic private equity firm Sveafastigheter and local asset manager Capitol Asset Management have signed an agreement to acquire seven grocery stores in Finland from Aberdeen Property Fund Finland I, a property fund managed by Aberdeen Asset Management Finland.
Financial details were not disclosed. Nordea provided debt finance for the deal.
The properties in the hypermarket and convenience store segment are small to mid-sized and provide a total of 6,000 m2 of commercial space, with retail group Ruokakesko as the sole tenant.
'The acquired assets complement the grocery portfolio which we already own. We will continue to look for opportunities in the grocery store segment and develop the portfolio in close co-operation with the tenant,' commented Patrick Gylling, partner at Sveafastigheter.
The company made the purchase for its Fund III, which held its final closing in February 2011 reaching EUR 317 mln of equity commitments.
