Sale of Swedish retail portfolio to Rockspring
Redevco instructed Cushman & Wakefield to find a buyer for their entire Swedish investment portfolio. The properties were located in Stockholm, Västerås, Malmö, Lund and Borås and included some 46,000 sqm of retail space.
We shortlisted a number of potential buyers for both the entire portfolio and individual assets and prepared a full marketing campaign. All properties were analysed in detail and appraised both individually and as a portfolio. During our pre-sale discussions with investors, Rockspring indicated a very strong interest and confirmed both commitment and capability to meet our tight timetable and asking price and we offered them exclusivity to negotiate and close the deal.
External financing was acquired and the entire portfolio was sold to a fund managed by Rockspring in line with time table at a competitive price, deal volume in the region of SEK 700 million