Brunswick, Allianz grant €150m loan backed by major Swedish mall

Brunswick Real Estate and Allianz Real Estate have announced the signing of a SEK 1.56 bn (€150 mln) credit facility to finance Atrium Ljungberg, one of Sweden's biggest listed property companies.

The 10-year loan is backed by Gränbystaden Galleria with over 70 shops in the university town of Uppsala, the fourth largest city in Sweden.

Martin Lindqvist, CFO at Atrium Ljungberg, said: 'As part of our work to widen our financing base and at the same time gain access to longer term capital commitment, we have chosen to sign a loan with a maturity of approximately 10 years. This is a good complement to the bank financing we already have in place and it gives us access to a longer capital commitment than the banks can normally offer.'

'Gränby Centrum is one of the best performing shopping centres in Sweden and we are pleased to assist Atrium Ljungberg in the continued development of Gränbystaden as a city district where people want to be, today and tomorrow,' added Aksel Lundquist, fund manager at Brunswick Real Estate.

Brunswick Real Estate held the final close of its second senior debt fund in the Nordics in June 2018, thereby reaching over SEK 8.5 bn (€830 mln) under management. Main investors are some of the region’s largest institutions.


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