26 May, 2021

Revelop acquires 17 properties for SEK 850m and increases its presence in new markets

Revelop acquires 17 properties for SEK 850m and increases its presence in new markets

Stockholm, Sweden, May 26, 2021: The real estate company Revelop, which recently closed its fifth value-add fund at SEK 2.1 billion, has acquired 17 commercial properties with a combined lettable area of 85,000 m2 for a total of SEK 850 million. The properties are mainly located in the Gothenburg and Malmö metropolitan areas.

 

The 17 properties, which are acquired in eight separate transactions, are mainly located in Gothenburg and Malmö metropolitan areas. The distribution of lettable area is approximately 50% industrial, 30% mixed-use and 20% offices. All properties are in submarkets that are experiencing significant growth and development with opportunity for significant rent reversion, new letting of vacant space and development of unutilized building rights.

 

– In line with our long-term strategy, the acquired properties give us the opportunity to reposition properties in an environmentally conscious way and thereby contribute to a more sustainable society. We will invest significantly and take the properties “from brown to green, said Thomas Sipos, CEO of Revelop.

 

Revelop will also initiate rezoning and concept design to create conditions for the development of affordable housing. Another initiative is to continue the roll-out of its C/O concept for flexible offices and co-working in the assets where it is suitable.

 

– We already operate five C/O facilities in the Stockholm metropolitan area. With these acquisitions, we will open two new C/O facilities – one in Gothenburg and one in Helsingborg, said Thomas Sipos.

 

Following the acquisitions in Gothenburg, Revelop has become a significant real estate owner in the region with over 60,000 m2 of lettable area.

 

Revelop announced earlier in May that the company had secured new capital for its fifth value-add fund of just over SEK 2.1 billion – the largest fund specifically aimed at Swedish real estate investments in seven years. Following the latest acquisitions, Revelop has an acquisition capacity of at least an additional SEK 4 billion.

 

For more information, please contact:

Thomas Sipos, CEO, ph: +46-70-980 66 06, email: thomas.sipos@revelop.se

Anders Sylvén, CFO and Vice President, ph: +46-73-397 72 20, email: anders.sylven@revelop.se

 

Revelop is not an ordinary real estate company. We invest in places where we can create positive change by repositioning assets with a distinct focus on sustainability. The company is ranked by the data and analytics company Preqin as one of the world’s best performing real estate fund managers over time in terms of consistent returns. The property portfolio comprises approximately 500,000 m2 and the value amounts to SEK 5 billion.

 

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