Valad Continental Partners has acquired a property portfolio from Swedish occupational pension company Alecta in a EUR 253 mln deal. The portfolio includes mostly office and warehouse properties, located in nine cities in southern and mid-Sweden. The total lettable area amounts to 258,000 m2, of which 50% is located in Stockholm.
Valad Continental Partners has acquired a property portfolio from Swedish occupational pension company Alecta in a EUR 253 mln deal. The portfolio includes mostly office and warehouse properties, located in nine cities in southern and mid-Sweden. The total lettable area amounts to 258,000 m2, of which 50% is located in Stockholm.
Catella Corporate Finance in Sweden advised Alecta on the transaction. Alecta said the transaction will provide the company with a better balance of international and Swedish property holdings. The pension insurance company is headquartered in Stockholm, and manages EUR 46 bn on behalf of 1.7 million private customers and 28,000 companies.
Australian-listed Valad Property Group expanded in Europe last year with the acquisition of UK fund manager Scarborough Group for $1.9 bn, giving it control of British-based European property fund manager Teesland.
