The Sisjö Entré retail park in Gothenburg has been sold, marking another step in the company’s portfolio optimization. The property had been held by the DEFO-Immobilienfonds 1 special fund since 2008 and was acquired by Swedish real estate company Bygg-Göta. The purchase price has not been disclosed.
“We took advantage of the improving retail investment market sentiment in Sweden to divest our asset for portfolio strategic reasons. Through our active asset management over the 17-year holding period, we were able to unlock value now realized in a successful exit with a purchase price significantly above the most recent appraised value.”
said Felix Brandt, Investment Manager at Union Investment.
“The retail property was one of the first European assets in the DEFO-Immobilienfonds 1 portfolio. The released liquidity will be reinvested within the next months, preferably in grocery-anchored retail parks in Sweden, Spain or the Netherlands.”
states Michael Kammerzell, Head of Fund Management – Special Real Estate Funds at Union Investment.
The sales process was supported by Gernandt & Danielsson, KPMG, Drees & Sommer, and Panreal.
