Nordic real estate fund manager Genesta has acquired part of Solåsen retail park in Jönköping, Sweden, for its newly established GNRE Core Plus fund.
Financial details were not disclosed.
Skandia Fastigheter is the seller of the 35,200 m2 retail park.
This is the first acquisition by Genesta’s new fund, GNRE Core Plus, with a total investment capacity of approximately €700 mln. The fund had its first closing in June and will invest in office properties in the Nordic capitals as well as logistics and retail assets in established locations throughout the Nordics.
‘Solåsen is an established retail park in a growing region and we are excited about the acquisition,’ commented Genesta’s CEO David Neil.
‘Furthermore, it is located in the most expansive part of Jönköping. The location and characteristics of the retail park are perfectly aligned with our investment strategy and we believe Solåsen will continue to be, together with Asecs, the most important retail destination in Jönköping.’