Brunswick forms Swedish JV to invest in urban community developments

Brunswick Real Estate and Swedish firm Bonnier Fastigheter have formed a joint venture focused on developing and actively managing urban commercial centres in Sweden's major cities. 

The JV, called Fastighets AB Hemmaplan (Hemmaplan means ‘home turf’ in Swedish) will pursue a long-term strategy with an active, sustainable ownership model based on local asset management and collaboration with municipalities, research institutions and local non-governmental organisations.

Hemmaplan will be majority-owned by Bonnier, with Brunswick, as co-owner, taking overall responsibility for operations. The new firm has the ambition to be 'the leading property owner in Sweden focused on meaningful and measurable change for the community in which it operates'.

In a deal marking its first investment, the company has acquired a 50% interest in Rosengård Centrum, a commercial centre in Malmö, in a joint venture with Fastighets AB Trianon. The total property value of the project amounts to SEK 560 mln (approximately €55 mln).

The two partners aim to accelerate the development of Rosengård Centrum, including the creation of a library as well as exercising building rights for residential development. Hemmaplan and Trianon will also continue already initiated measures to drive safety, employment, health and living conditions for children.

'Hemmaplan aims to take a new approach to real estate investment,' said Patrik Andersson, CEO of Brunswick. 'Our goal is to generate meaningful and measurable change in urban commercial centres and their surroundings through local presence, partnerships, and collaborations with local organsiations. The acquisition of Rosengård Centrum and the partnership with Trianon is the ideal start for the company, not least given Trianon’s experience and track record in social sustainability.'

Hemmaplan is currently in talks on additional acquisitions and encourages property owners, municipalities and other partners to 'reach out for a dialogue'.

Tomas Hermansson, CEO of Bonnier Fastigheter, added: 'Bonnier Fastigheter’s core and starting point is the interplay between people, the property, the block and the the neighbourhood. Bonnier has a long history as developer and manager of sustainable properties. We have the ambition to grow in city centre developments to ultimately support a safe and open society by planning, developing, and managing attractive spaces for individuals to work and live. Hemmaplan is an exciting venture for Bonnier and complements our existing operations and investments.'

As part of the establishment of Hemmaplan, Ulf Jonsson, founder of construction company Zengun AB, has been appointed board chairman at the firm. In addition, Brunswick has recruited Atusa Rezai, former process leader at Folkets Husby, to be responsible for social sustainability.



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