Alecta to form Swedish real estate subsidiary

Swedish life insurance company Alecta Pensionsforsakring has announced plans to incorporate its real estate business and form a wholly owned subsidiary, Alecta Fastigheter AB.

Lena Boberg, the current CEO of ICA Fastigheter, will lead the new company as of July 2020. Alecta Fastigheter AB will initially own and manage properties worth SEK 45 billion ($4.3 billion).

“I am very much looking forward to building Alecta Fastigheter AB together with the employees in the Swedish real estate business,” said Boberg. “The goal is to grow in the coming years both through acquisitions and development, in combination with active management and a large customer and sustainability focus.”

The incorporation of the new company will take place over a period of 18 months. After that, Alecta said the company will reclaim most of the property