Valad Europe is to invest an additional €300m (£242m) of capital in Nordic retail assets in major regional cities, with an emphasis on Sweden.
The firm has assembled a pipeline of deals in Sweden, Denmark and Finland.
The Valad Nordic Retail Partnership, backed by a private equity investor and with gearing of up to 65%, will have up to €857m (£694m) of firepower.
It has already bought a €45m portfolio of four Swedish shopping centres in Örnsköldsvik, Karlskoga, Nyköping and Mjölby.
Combined with CPI-indexed rents, the partnership’s investments are forecast to generate double-digit IRRs over their lives.
Valad manages €355m of assets in the Nordics totalling 6m sq ft and has invested €150m in the past year.
Christian Bearman, head of corporate development and private equity, said: “We have a strategy in the Nordic region, in Sweden in particular, to invest in regional shopping centres that dominate their catchment areas.”
• To send feedback e-mail mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
