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Credit: Tristan Fund

Tristan Fund Sells Four Swedish Convenience retail assets to Nordic investor NREP

EPISO 4, an opportunistic fund advised by pan-European real estate investment manager Tristan Capital Partners, has sold four grocery-anchored, local shopping centres in the Greater Stockholm region to the Nordic institutional investor NREP for an undisclosed price.

The assets sold by EPISO 4 include:

• Näsbypark Centrum: A community centre located in the affluent area of Täby, Stockholm comprising 11,300 sqm mixed-use area, anchored by a Hemköp supermarket, a senior living home and an elementary school.

• Viksjö Centrum: An 11,700 sqm convenience centre that serves the Greater Stockholm neighbourhood of Viksjö, which has c. 15,000 inhabitants. The centre is anchored by one of the strongest performing ICA grocery stores in the country, as well as Systembolaget and several cafes and restaurants.

• Ekerö Centrum: An 11,000 sqm convenience centre in the municipality of Ekerö, a middle-class suburb with high incomes, low unemployment and consistent population growth. The centre is anchored by ICA, Systembolaget, cafes and resturants, a doctor’s practice and other functions serving the community. In addition, the complex accommodates 30 residential units.

• Rondellen: a strategically located asset in Upplands Väsby, 26 km north of Stockholm, anchored by ICA

Gyongyver Giday, Director at Tristan Capital Partners, said: “Since we bought the portfolio around three years ago we have disposed of two assets that were not strategically located and focussed on stabilising the remaining four assets located in Greater Stockholm. We have successfully executed on our business plans, securing longer leases with the grocery and other anchor tenants, upgraded their units at Näsbypark and Viksjö to improve performance and have made significant advancements in obtaining residential zoning for new units in Ekerö.”

Advising EPISO 4 on the transaction were Linklaters and Amblin.