Nordic private equity real estate firm Slättö’s fund Slättö Core+ has agreed to buy a public use real estate portfolio valued at close to €300 million from Estea Omsorgsfastigheter.
The portfolio of 47 properties totalling approximately 87,000 square metres is located in major municipalities in Sweden, with a focus on Stockholm and Gothenburg.
It consists mainly of elderly care homes with a remaining lease duration of about 9 years.
With this acquisition from Estea, Slättö establishes public use as a new business sector, supplementing the company’s existing themes in Nordic residential, logistics and light industrial as well as hotel.
This acquisition fits well into Slättö Core+ existing portfolio with a focus on strong, sustainable cash flows, the company said in a press release.
“Slättö has previously invested in selective acquisitions and projects within the public use segment. We have a strong belief in future demand for these types of assets and look forward to managing and developing this portfolio, as well as assessing further investments in public use”, says Erik Dansbo, Senior Partner and Chief Investment Officer at Slättö.
Slättö Core+, established in 2019, is a Nordic fund investing in real estate with a robust and sustainable cash flow profile and a Nordic institutional investor base. With this transaction, Slättö Core+ expands its portfolio to exceed a balance sheet total of EUR 1 bn. The portfolio, where 70% of the properties are environmentally certified, further enhances the fund’s sustainable position.
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