Hemfosa Fastigheter AB, a Stockholm-based real estate investor backed by pension funds, announced this week that it had acquired the remaining 50% of a commercial properties portfolio with a market value totaling sek 1.3 billion from Crown Nordic Management. Hemfosa, through Kronfastigheter, had taken an initial half interest in the joint venture in late 2013 through the joint venture Hemfosa Kronfastigheter Holding, which is owned equally by Hemfosa and Crown Nordic, with option on the remainder of the 140,000 square meter portfolio.
"We are delighted that Hemfosa, following one year of joint development and streamlining of the portfolio together with Crown Nordic Management, can now exercise the option to acquire the remainder of Kronfastigheter. The properties are an ideal fit for Hemfosa's growing property portfolio both geographically and strategically," says Jens Engwall, CEO of Hemfosa Fastigheter.
The properties are located centrally in growth districts of southern and central Sweden such as Sundsvall, Gävle, Enköping, Stockholm, Vallentuna, Sigtuna, Norrköping, Linköping, Motala and Uddevalla. The properties in Stockholm, Gävle and Uddevalla account for approximately 70% of the property value.
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