Sveafastigheter buys Swedish supermarket portfolio

Sveafastigheter Fund III has acquired a 32-asset supermarket portfolio in Sweden from CBRE Global Investors' Nordic Property Fund.

The investment volume amounts to around €46 mln.

The 49,000 m² portfolio is let to Coop (68%) and ICA (32%) and is located in central and southern Sweden.

Johan Bråkenhielm, head of investments at CBRE Global Investors Nordics, commented: 'The demand for supermarket portfolios has increased. Many investors have approached us; by disposing of this portfolio we achieve the targeted change in allocation and take advantage of the increased investor demand.'

Stockholm-based fund manager Sveafastigheter launched Sveafastigheter Fund III in February 2011 after having raised €317 mln. The fund is focused on Sweden and Finland and its strategy is opportunistic with a value-added approach to asset management.

CBRE Global Investors is a global real estate investment management firm with $88.2 bn in assets under management at end-June 2013.