Sveafastigheter establishes new property company and sells portfolio
Sveafastigheter and the Third National Swedish Pension Fund have established a new property company with focus on office and retail properties in growing European regional cities.
The new company, majority-owned by AP3, will build a property portfolio, with Sveafastigheter managing assets.
During the summer, three acquisitions have been completed. The acquisitions comprised of 15 commercial properties in Eskilstuna, Skövde, Halmstad, Trollhättan and Östersund and two retail properties in Karlskrona. The total property value amounts to approximately SEK 700 million ($83.1 million).
Recently, Sweden’s AP1 and AP2 formed a €4 billion ($4.4 billion) joint venture with TIAA-CREF.
In a separate deal, Sveafastigheter sold a large property portfolio out of Sveafastigheter Fund II, with a value