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Hemfosa to buy 51-property Swedish logistics portfolio in 3.6B kronor deal

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Hemfosa to buy 51-property Swedish logistics portfolio in 3.6B kronor deal

Private investment firm Starwood Capital Group and Scius Partners agreed to sell a 51-property portfolio to Swedish real estate company Hemfosa Fastigheter AB in an approximately 3.6 billion-kronor deal.

The portfolio contains about 460,000 square meters of office, warehouse and logistics assets in Sweden.

Starwood Capital, through an affiliate, bought the assets in 2015 as part of the SveaReal portfolio in Sweden and the DNB NOR Eiendomsinvest I ASA in Norway. Scius Partners is the local operating partner for the SveaReal portfolio.

Pangea Property Partners KB is serving as financial and mergers and acquisitions adviser to Starwood on the deal, which is expected to close in September.

As of July 5, US$1 was equivalent to 8.76 Swedish kronor.