Through 3KR Norwegian Retail, Svenska Handelsfastigheter owns 25 retail properties in Norway. The divestment of the company to Slate Asset Management will enable Svenska Handelsfastigheter to focus on its portfolio in Sweden and continue its efforts to develop and environmentally adapt its existing properties.
“We are very happy to have entered into an agreement with our partner Slate Asset Management regarding 3KR Norwegian Retail. Slate Asset Management's active focus on the tenant and long-term view upon ownership are in line with our perception of what tenants will demand in the future. The divestment will make it possible for us to focus on developing and environmentally adapting Svenska Handelsfastigheter’s existing properties in Sweden, which is in line with our strategy,” says Lennart Sten, CEO of Svenska Handelsfastigheter.
Brady Welch, Founding Partner of Slate Asset Management adds:
“We are pleased to be further expanding our footprint in Europe with this acquisition. Our hands on approach to asset management is focused on creating value through property modernizations, sustainability enhancements and strong leasing, and we see a significant opportunity to deploy our strategy across this portfolio in Norway to the benefit of our tenants and our partners.”
Advokatfirmaet Selmer AS, Akershus Eiendom AS, and Deloitte are Svenska Handelsfastigheter's advisors in the process attributable to the sale.