Grosvenor Europe has agreed to sell Haninge Centrum, a shopping center in Stockholm, Sweden, on behalf of the Grosvenor European Retail Partnership (GERP) fund, to Niam, a real estate private equity firm based in northern Europe.
Acquired from Unibail-Rodamco in 2011 as part of a wider portfolio by Grosvenor in 2011, the shopping center in Stockholm offers over 43,000 sqm of retail, dining and community services. It also serves as a local commuter hub, just 30 minutes south of central Stockholm by direct train.
Carl Strufve, Director, Nordics, Grosvenor Europe: “The divestment forms part of our wider investment strategy in the region. We have made considerable improvements to the asset since acquisition and the sale will enable us to focus on and reinvest in our existing portfolio. Stockholm remains one of our core markets.”
“Haninge Centrum will be a good addition to the other commuter hubs in the portfolio. We look forward to collaborating with our tenants and Haninge Municipality to continue the development of Haninge Centrum to a vibrant hub that meets the everyday needs of our visitors. With the support of large housing development projects, population growth in the immediate area is expected to significantly exceed most other areas in Sweden over the next ten years, which gives Haninge Centrum good conditions for increasing the number of visitors and sales,” said Daniel Andersson, Head of Acquisitions Sweden.