After the blockbuster deal with Niam, Svenska Handelsfastigheter keeps the tempo up by completing a new transaction. This time the company acquired a retail project in Södertälje from the struggling TK Development. CEO Lennart Sten tells Nordic Property News of the allure with the deal and why they want to expand in the area.
The SEK 1.6 billion (EUR 160M) acquisition from Niam was Svenska Handelsfastigheter’s second largest deal ever. The company’s CEO Lennart Sten tells Nordic Property News what the deal means to the company – and who it decreases risk exposure.
Niam has signed an agreement to sell eight retail properties, comprising 100,000 square meters, to Svenska Handelsfastigheter for a total of EUR 160M.
Svenska Handelsfastigheter acquires a portfolio of seven retail properties for a purchase price of EUR 54M, from Standard Life Investment European Property Growth Fund, EPGF.
A new Swedish real estate company, founded by amongst others Lennart Sten, former Europe Manager at GE Capital Real Estate, purchases 44 retail properties from Areim.