Port 73 is a shopping centre located in Haninge, 20km south of central Stockholm. Covering 36,556 sqm, it is a dominant shopping destination that is fully occupied with a strong national and international tenant mix. The centre underwent the latest expansion in 2013 with a new, two storey addition and the modernization of the exterior and façade. As a result, the asset has become one of the strongest shopping centres in southern Stockholm.

The municipality of Haninge is experiencing rapid residential expansion and a new residential area for 3,300 homes is under construction in the close neighbourhood of Vega. The centre is easily accessible due to its prominent position along the main road into Stockholm from the south. It has parking for 1,156 cars and attracts 5.3 million visitors each year. 

“We are very pleased to add another well performing asset to our Nordic portfolio. ESCF II seeks dominant shopping centres with an establish track record of good performance. Port 73 is an established centre, with growing sales as well as high and stable occupancy rates driven by strong tenant demand,” says Andreas Norberg, Head of Investment Operations Nordics, CBRE Global Investors.

“The acquisition of Port 73 is a great fit with the Fund’s strategy of acquiring dominant centres with potential for income growth through repositioning. It is one of the final acquisitions for the Fund which is expected to have 10 assets under management shortly after year end, with an expected GAV of circa EUR 1.05 billion,” says Toby Smith, Portfolio Manager for ESCF II.

“Our focus is to develop attractive urban environments with a mix of retail, offices, residentials, service, culture and education. We assess that within the foreseeable future we cannot develop the site at Port 73 in a manner which supports our vision and business concept. The current market situation strongly supports divestment and therefore we have chosen to sell and instead focus on and invest in our other locations with greater development opportunities, says Annica Ånäs, CEO, Atrium Ljungberg.

CBRE served as advisor to Atrium Ljungberg.