Sweden's Revelop secures 11 assets following €200m+ equity boost

One of the transactions was a SEK 900 mln acquisition from Castellum.

The capital comes from a combination of existing and new institutional investors, with the majority being international.

Revelop said that the 11 assets acquired comprise 70,000 m2 of space, and represent SEK 1 bn in asset value. One of the transactions was a portfolio acquisition from Castellum that constituted assets in both Stockholm and Gothenburg, in strong urban transformational locations.

Thomas Sipos, group CEO and executive partner at Revelop said: 'These acquisitions are a result of our proactive research driven sourcing, local market knowledge and conviction in our carefully selected investment themes. Revelop’s sector agnostic investment strategy is to acquire assets with value-add potential in sub-markets with strong structural growth.'

To date, Revelop has invested in urban industrial, mixed-use and social infrastructure assets with repositioning and development potential. According to the business, it is seeking to invest in assets that can be future proofed through various ESG initiatives including significant reduction in carbon footprint, improved energy performance and environmental certifications as well as creating positive social impact.

'In a challenging fundraising environment, I’m humbled and grateful for the support from both existing and new investors. It shows strong investor interest for Swedish value-add real estate and that investors back managers with a sustainable business model and strategy.

'I'm excited about the market opportunity in Sweden, where we now can acquire undermanaged assets at very attractive entry values. Strong growth prospects for the Swedish economy, combined with significant infrastructure investment, reindustrialisation and FDI, creates interesting times for value-add investments,' Sipos concluded.