Swedish property company Nyfosa has paid €242 million (SEK 2.5 billion) for the entire portfolio of fund Estea Sverigefastigheter 3.
The portfolio is a mix of rented housing, schools, healthcare centres, offices and logistics property. Nyfosa said approximately 60% of the 16-property portfolio is located in the Stockholm region, in the capital itself, Karlstad and Eskilstuna. The portfolio has a total leasable area of about 92,000 sq m square meters.
Over half of the portfolio (55%) is let to “tax-financed” (local government) tenants including Karlstad Municipality, Region Värmland and Stockholm County Council, and the portfolio is 94% leased.
The portfolio includes a development project, Nacken 1, Eskilstuna, which will create about 200 apartments for rent.
Further scope for development anticipated
Several “zoning plan processes” are also underway which the firm expects to result in about 20,000 sq m of residential development according to Stina Lindh Hök, who took over as the company’s new CEO yesterday, succeeding Jens Engwall who will remain as advisor to Nyfosa. Lindh Hök was previously Nyfosa’s chief operating officer and before that had worked for Hemfosa, Atrium Ljungberg. Leimdörfer and Fabege.
Nyfosa has also agreed to pay Galjaden Fastigheter €84 million (SEK870 million) for a 22-property portfolio of mostly warehouse, industrial and wholesale properties.
The 22 properties, including two developments are located in growth areas such as Linköping,
Norrköping, Södertälje, Sigtuna, Malmö and Sollentuna, and have a leasable area of about 94,000 sq m The deal will close on 15 January.