JULY 19, 2016

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U.S. investor sells retail portfolio in Sweden

by Andrea Waitrovich

Starwood Capital Group, with its partner Vencom, has sold six retail parks and shopping gallerias in Sweden to Trophi Fastighets AB, a company managed by Redito and owned by the Swedish pension fund AP3. The assets are majority owned by Starwood Capital Group, while Vencom is a minority investor and operating partner of the properties.

The transaction, which is expected to close in September 2016, is valued at approximately SKr 3.1 billion ($360 million). The assets in the sale include: Arninge in Täby, Bäckebol in Göteborg, Boländerna in Uppsala, Jägersro in Malmö, Tunapark in Eskilstuna and Weibullsholm in Landskrona.

Starwood Distressed Opportunity Fund IX purchased a portfolio of seven retail assets in prime locations throughout Sweden from Kooperativa Förbundet. The transaction was Starwood's first investment in Sweden. SOF IX and Vencom continue to own one asset from the portfolio, Bromma Blocks in Stockholm.

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