Union Investment has acquired the Kållered Retail Park in Gothenburg with approximately 19,400 sqm for its open-ended real estate fund UniImmo: Deutschland. The purchase price amounts to approximately EUR 80 million. The seller is the Swedish retail property company Ingka Centres part of the Ingka Group, which also includes IKEA Retail and Ingka Investments.
After about three years of consistent restraint, during which liquidity generation was prioritized, Union Investment is now returning to the buyer side with its open-ended real estate retail funds for private investors. For its special funds, Union Investment has already been active as a buyer again since the end of 2025.
With a current fund volume of around EUR 15 billion, UniImmo: Deutschland is Union Investment’s largest real estate fund.
“We have laid the foundation to actively shape the new market cycle in the interest of our investors through predominantly profitable sales. We are therefore very pleased to be able to reinvest part of the proceeds into UniImmo: Deutschland and to further broaden and strengthen the resilience of the fund with a newly built retail park. We are deliberately examining further acquisitions for UniImmo: Deutschland, while keeping a close eye on fund inflows and aiming to stabilize them further. We will continue to actively utilize sales opportunities as well,” says Karim Esch, Member of the management board and Chief Investment Officer at Union Investment
Reliable income generator for UniImmo: Deutschland
Union Investment’s Senior Investment Manager, Felix Brandt said: “The recently completed Kållered Retail Park fits perfectly into our investment strategy: The fully let retail park is located on one of Scandinavia’s busiest traffic routes in one of Sweden’s strongest regions in terms of purchasing power and growth. Its proximity to the high-profile IKEA creates positive synergies for the retail location. With its focus on daily needs and high energy efficiency standards utilizing renewable energies from solar panels and geothermal systems, the property actively contributes to achieving our sustainability goals and strengthens the fund’s future performance.”
“This transaction demonstrates the strong appeal of high-quality, purpose-built retail destinations that meet the evolving needs of both retailers and customers. With its exceptional convenience focused tenant lineup and strong fundamentals complementing the existing neighboring retail, the Shopping Park in Kållered represents an attractive long-term investment. We are delighted to have partnered with Union Investment as they re-enter the Swedish retail market, and we are confident the property will continue to thrive under its new ownership,” states Karoline Nader-Gräff acting Global Expansion & Development Director at Ingka Centres.
Union Investment was legally advised by Gernandt & Danielsson, for tax and financial by KPMG, and technically by Drees & Sommer. Panreal from Gothenburg acted as the buyer’s commercial advisor. The seller was advised legally by Mannheimer Swartling and for tax by EY. The transaction was brokered by JLL.
(dp)
