Nordea is funding Partners Group’s purchase of a mixed-use portfolio valued at SEK 3.2bn (€336m) from Sveafastigheter.
The Nordic bank, headquartered in Stockholm, has provided senior financing for the deal, which will see 32 assets in Sweden, Finland and Estonia change hands. The lender and borrower declined to specify the loan amount.
The portfolio is being sold by Sveafastigheter Fund II and comprises a mix of development and income-producing assets including retail, office, hotel and public-use properties totalling 250,000 sq m.
Swiss-based Partners has mandated investment manager Sveafastigheter, based in Sweden and owned by Brunswick Real Estate, to continue to manage the portfolio.
“We were able to buy the portfolio at an attractive price in a proprietary transaction on behalf of our clients,” said Fabian Neuenschwander, senior vice president at Partners. “We also secured new debt financing for the portfolio, positioning the assets well for further value creation efforts in partnership with Sveafastigheter.”
“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,” added Neuenschwander.
Last year, Nordea provided financing to Bayside Capital for its €107m joint venture purchase of a Finnish retail portfolio and, alongside ING, also secured the financing mandate for Blackstone’s acquisition of a 200,000 sq m Central European logistics portfolio.