Brunswick Real Estate completed the sale of the Grocery Stores Sweden (“GSS”) Portfolio to Tre Kronor Property Investment at a total gross asset value of MSEK 903 (EUR 87M). The portfolio comprises 50 assets, including 43 grocery stores, and a total retail area of 69,000 sqm. The assets are located all across Sweden, with an emphasis on smaller regional cities in the southern and mid parts of the country. ICA is the largest tenant, followed by Coop and Axfood.
Sveafastigheter Fersen II AB, co-owned by global private markets investment manager Partners Group, on behalf of its clients, and Brunswick Real Estate, has held the portfolio since 2016. Brunswick Real Estate and Partners Group have been responsible for the management of the portfolio together with Scius Partners as local asset management partner.
"The divestment of the GSS Portfolio is a great example of a well-executed business plan. Since 2016 we have completed strategic add-on acquisitions to the portfolio, renegotiated and extended lease agreements, and made relevant investments in the properties. We are happy to divest a well-positioned portfolio to the growing company Tre Kronor,” says Annika Fridolf, Fund Manager at Brunswick Real Estate.
Wistrand Advokatbyrå acted as Brunswick Real Estate’s legal counsel.
Brunswick Divests Grocery Store Portfolio
Sweden — Brunswick Real Estate, on behalf of Sveafastigheter Fersen II AB, has divested a 50-property portfolio to the listed property company Tre Kronor. Total gross asset value amounts to MSEK 903 (EUR 87M).