The total value amounts to EUR 168 M. The retail portfolio consists of 11 necessity driven retail properties with a total 63,500 square meter lettable area in attractive locations in the greater regions of Gothenburg, Stockholm and along the E4 corridor from Stockholm to Linköping. The portfolio has been built up and optimized by NREP Retail over the last five years.
 
”The team has worked incredibly hard to execute on the necessity driven retail strategy during the holding period. NREP’s model with strong in-house asset management capabilities has created a lot of value to the investors. The active asset management has secured the long-term attractiveness of this portfolio by optimizing the tenant mix, adjusting the premises to the modern retailer’s demand as well as creating building rights both for residential, retail and community services," says Tobias Alsborger, Partner at NREP.  

"We are very pleased to have been given the opportunity to complete this acquisition, a deal that fits well with our investment strategy. The property portfolio is very well-managed and has a development potential in addition to stable cash flow,” says Marita Loft, CEO of Storebrand Fastigheter.

“NREP is proud to secure yet another exit with very attractive risk adjusted returns to our investors. This exit further underpins NREP’s strong position as one of the leading managers in the Nordic region. We see this as further evidence that our business model has the ability to deliver great value over the long term to our investors,” says Gustaf Lilliehöök, Partner at NREP.

NREP was advised by C&W and Real Advokatbyrå.