ASI in SEK 1.2 billion resi acquisition

Aberdeen Standard Investments has acquired three residential properties in the Stockholm region for SEK 1.2 billion from JM. ”It is one of the best portfolios I’ve seen for a long time”, says Magnus Kenning to Fastighetsnytt.

The portfolio entails two recently completed developments in Lidingö and Täby as well as a recently started development in Sundbyberg, with completion scheduled in 2022. Transfer of ownership of the Lidingö and Täby properties will take place during Q3. In total, the three properties consist of 376 flats.

Magnus Kenning, Head of Transactions Sweden at Aberdeen Standard Investments, tells Fastighetsnytt that the portfolio is acquired on behalf of a pan-european residential fund, ASPER.

”It is fund that we have been working on for almost a year and a half. Its strategy is mostly based on a study we did identifying a number of attractive markets, including Stockholm.”

While the properties acquired are all in the outskirts of Stockholm, Magnus Kenning, praises the portfolio as one of the best he has seen for a long time.

”For an institutional investor, it is difficult to find residential properties with a sufficiently good return on investment in the city centre. This portfolio beats city centre properties, in my view”.

Magnus Kenning says that the Swedish market offers good riskadjusted returns at the moment, even if pricing is high and he hopes to be able to announce additional acquisitions after the Swedish summer vacation period.

”We are looking for good properties in attractive locations in Stockholm, Göteborg and Skåne”, he says.

Aberdeen Standard Investmens has property AUM worth SEK 12 billion in Sweden.

Sverrir Thór