Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Starwood Capital Group and Scius Partners Agree to Sell Swedish Assets to Hemfosa

Starwood Capital Group, a leading global private investment firm, and its local operating partner Scius Partners, announced today an agreement to sell a portfolio of 51 properties in Sweden to Hemfosa, a listed Swedish real estate company. The transaction, which is expected to close in September 2018, is valued at approximately SEK 3.6 billion. The portfolio of 51 assets consists of offices, warehouse space and logistics assets and totals approximately 460,000 sqm.

Starwood Capital Group, via a controlled affiliate of Starwood Global Opportunity Fund X (SOF X), acquired the assets as part of the SveaReal portfolio in Sweden and DNB NOR Eiendomsinvest I ASA in Norway, which was the largest transaction in the Nordics in 2015. Scius Partners is acting as the local operating partner for Starwood Capital Group for the SveaReal portfolio.

“We are pleased that we have succeeded in repositioning this diverse portfolio which at acquisition consisted of office, hotel, retail and warehouse/logistics assets into a well-managed and well-performing warehouse/logistics portfolio for which Hemfosa, as an institutional buyer, is the most natural long-term owner,” said Richard Vaaje, Senior Vice President at Starwood Capital Group. “Sweden and the Nordic region remains a core focus area for us and we are pleased with the value we have unlocked for our investors with the acquisition, management and now divestment of the majority of the Swedish portfolio.”

“During our ownership we have by actively investing into the portfolio increased occupancy, lettable area, lease terms and rental levels,” added Mikael Freudmann, CEO of Scius. “In addition, we have initiated planning for more than 200,000 sqm residential building rights in Västerås, Stockholm and Lund.”

Pangea Property Partners KB is acting as financial and M&A advisor to Starwood in connection with the transaction.