Profi Fastigheter, a Swedish manager and developer of commercial properties with a focus on Stockholm, Gothenburg and Malmö, has rebranded as Revelop and announced the final closing for its latest and largest ever fund.
Revelop's fifth value-add fund has raised just over SEK 2.1 bn (€207 mln), making it the largest fund in its category specifically aimed at investments in Swedish properties in the past seven years.
Founded in 2004, the firm focuses on Sweden's three largest metropolitan areas. The rebranding is designed to clarify its strategy of repositioning and redeveloping commercial real estate with a distinct sustainable framework and impact concept, according to the firm.
Thomas Sipos, CEO of Revelop, said: 'With our new name, we want to clarify our investment philosophy and the strategy to invest in real estate that we can reposition in a sustainable way.
'Thereby we can make a positive impact and contribute to a new, more sustainable society. By focusing on in-fill investment and extending the life of the existing building structures, we contribute to a reduced environmental footprint through better use of resources and avoid the major negative effects that demolition and new construction have.
'During our ownership, each asset embarks on a sustainable journey from “brown to green”.'
Added Anders Sylvén, chief financial officer and vice president at Revelop: 'During our ownership, each property undergoes a sustainable journey - from brown to green. Revelop alludes to the motto of extending the life of buildings, creating attractive places and focusing on efficient use of resources by adopting a circular approach.
'We think differently and invest in the existing urban environment next to existing infrastructure where we see opportunities for positive change through refinement and densification.'
