Cordea Savills acquires retail asset in Sweden
Cordea Savills has purchased a retail park in Stockholm for €32 million ($40 million) on behalf of its European Retail Fund. The seller was Commerz Real.
“This asset provides the opportunity to enter the Swedish market and Stockholm in particular, where demographic and consumer spending trends are strong and above European Union averages,” said Peter Brostrom, director of investment in the Nordic region, in a statement. “Furthermore, we now have a retail asset in a very affluent suburb of Stockholm, where there is a robust, relatively resilient source of local spending. There is great potential to actively manage the asset by further establishing the park in the community and optimizing the tenant mix, which will improve sales and increase footfall.”
The Enebyängen Retail Park in Danderyd, a wealthy suburb of Stockholm, comprises 157,153 square feet of space. It is fully leased on inflation-linked leases to 14 tenants, includi