Greykite European Real Estate Fund I has signed contracts to acquire a 94,400-square-meter (1.02 million-square-foot) multi-let industrial (MLI) portfolio in Sweden, which will seed Lagerhome, its newly formed European MLI platform, targeting €1 billion ($1.1 billion) of investment during the next 18–24 months.
The 27-property portfolio is located in established industrial submarkets around Sweden’s two largest cites, Stockholm (55 percent by lettable area) and Gothenburg. The portfolio is being acquired from Regio, a commercial real estate company backed by the Third Swedish National Pension Fund (AP3). In line with GREYKITE’s proven strategy of working with best-in-class local partners, the portfolio will be managed by minority joint venture partner Broadgate Asset Management, a Nordic real estate operating company.
The portfolio is currently 90 percent occupied, with a diversified lease profile across more than 120 tenants. Located in highly accessible infil
