Valad Europe has launched a vehicle with a private equity firm targeting the Nordic retail property sector.
The Valad Nordic Retail Partnership (VNRP) will have a strong focus on Sweden, the company said.
Christian Bearman, head of corporate development and private equity at Valad, said: “We have identified a theme in the Nordic region, in Sweden in particular, to invest in regional retail shopping centres anchored by food and convenience stores that dominate their local catchment areas.”
A combination of attractively priced assets and forecasts of around 2% growth over the next 12 months makes the market a compelling investment proposition, Bearman said, with the potential to achieve double-digit IRRs.
Valad has bought four regional shopping centres in Sweden for the vehicle.
The 50,000sqm portfolio, in Örnsköldsvik, Karlskoga, Nyköping and Mjölby, is anchored by national and local brands and let to more than 90 occupiers.