NREP shops for Swedish convenience stores

Nordic institutional investor NREP has acquired four grocery-anchored, local shopping centres in the Greater Stockholm region from EPISO 4, an opportunistic fund advised by pan-European real estate investment manager Tristan Capital Partners.

Financial details were not disclosed.

The assets include the 11,300 m2 Näsbypark Centrum, located in the affluent area of Täby, Stockholm, which is anchored by a Hemköp supermarket, a senior living home and an elementary school. Viksjö Centrum is an 11,700 m2 centre anchored by a well-performing ICA grocery store, as well as Systembolaget and several cafes and restaurants.

Ekerö Centrum is an 11,000 m2 centre in the municipality of Ekerö, anchored by ICA, Systembolaget, cafes and resturants, a doctor’s practice and other functions serving the community. In addition, the complex accommodates 30 residential units. Meanwhile regional centre Rondellen, in Upplands Väsby, 26 km north of Stockholm, is also anchored by ICA.

Gyongyver Giday, director at Tristan Capital Partners, said: 'Since we bought the portfolio around three years ago we have disposed of two assets that were not strategically located and focused on stabilising the remaining four assets located in Greater Stockholm.

'We have successfully executed on our business plans, securing longer leases with the grocery and other anchor tenants, upgraded their units at Näsbypark and Viksjö to improve performance and have made significant advancements in obtaining residential zoning for new units in Ekerö.'

Linklaters and Amblin advised EPISO 4 on the sale.

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