Sveafastigheter, which is part of Brunswick Real Estate, has sold a real estate portfolio to Partners Group, according to a statement.
The portfolio, which was held in Sveafastigheter Fund II, has a value of about SEK 3.2 billion ($378 million; €335 million) and includes 32 properties such as retail, office, hotel and public use properties in Sweden, Finland and Estonia. The transaction closed on 31 August.
Sveafastigheter will continue to manage the portfolio, which includes a mix of development and fully income-producing assets.
“We forecast continued strong performance in Nordic real estate markets, along with Estonia, and see a lot of potential in the assets we have acquired from Sveafastigheter Fund II,” Fabian Neuenschwander, senior vice president at Partners Group, said in the statement.
He added that Partners Group was able to buy the portfolio at an attractive price in a proprietary transaction. “We also secured new debt financing for the portfolio, positioning the assets well for further value creation efforts in partnership with Sveafastigheter.” Senior financing for the transaction was provided by Nordea Bank AB.
Neuenschwander recently told Secondaries Investor that Partners Group is finding attractive real estate secondaries opportunities in Europe, especially in the UK and in Scandinavia.
Sveafastigheter, which is based in Stockholm, is a Nordic property investment manager founded in 2003 and currently managing €1 billion. Sveafastigheter Fund II launched in 2006 and closed in 2009 with SEK 1.2 billion in commitments.