Valad Europe has launched a new fund to invest in Nordic retail.
The Valad Nordic Retail Partnership began with the acquisition of four shopping centres in Sweden.
The private mandated fund is a joint venture between Valad Europe and a private equity investor and will target retail assets based across the Nordic region and in particular, Sweden.
The first investment sees the fund acquire 535,000 sq ft of retail space in Örnsköldsvik, Karlskoga, Nyköping and Mjölby. There are 90 tenants including national and local brands.
Valad Europe head of Nordics Mikael Arne Fogemann said: “We chose this high yielding portfolio to seed the Valad Nordic Retail Partnership because it combines good quality assets, in strong regional locations, with a diverse income profile.
“We have a strong pipeline of investments in due diligence, as we look to deploy further capital into the Nordic market where we have around €300m of capital to invest and where we have completed about €150m of transactions in the last year.”
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