Investments

The main investments by Vencom Property Partners presently are Bromma Blocks and Lidingö Centrum. The total retail area in the portfolio is approx. 120,000 sqm. In addition the assets under management offers significant retail development possibilities and another approx. 50.000 sqm of development are in different phases of development.

Assets under management include the following:

Retail Greater Stockholm Region, Sweden

Bromma Blocks, Stockholm

The asset was acquired by CBRE GIP in February 2017 and Vencom has continued in the role as minority owner and operating partner after the initial acquisition in cooperation with Starwood Capital Group in the autumn 2013. The Bromma Blocks retail area is situated in the municipality of Stockholm in the North-western part of the City of Stockholm. The investment offers significant development potential, and Vencom is now working with the extension of the galleria by approx. 25.000. A building permit has been obtained and pre-leasing activities have started.

No of sqm: 55,000

No of tenants: 80

For further information see www.brommablocks.se

Facade of the Extension of the Mall

Lidingö Centrum, Lidingö

The asset was acquired in cooperation with Rockspring Property Investment Managers in the summer 2013. Lidingö Köpcentrum is the dominating retail asset in the municipality of Lidingö, situated to the North-east of central Stockholm. The area where the centre is located will undergo significant development during the coming years.

No of sqm: 27,000

No of tenants: 43

For further information see www.lidingocentrum.se

Greater Gothenburg Region, Sweden

Knalleland, Borås

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. The asset is located in the retail area Knalleland, which is the dominating retail area in the municipality of Borås.

No of sqm: 4,000

No of tenants: 11

Other, Sweden

Hälla, Västerås

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. The asset is located in the retail area Hälla, to the East of the central part of the municipality of Västerås.

No of sqm: 12,500

No of tenants: 4

Logistics

Kungens Kurva, Stockholm

The asset was acquired by Rockspring Property Investment Managers in the autumn of 2011. The asset is situated in Kungens Kurva, to the Southwest of central Stockholm, and is leased by the Nordic postal service, Postnord, on a long term basis.

No of sqm: 15,000

Residential

Aros Bostad

Aros Bostad was founded in the summer 2006 with Pramerica Real Estate Investors (Prudential Financial Inc. of the US) as the capital partner. Aros Bostad is focusing on conversion of commercial real estate into residential premises, as well as green field development of residential buildings in the Swedish market.

Aros Bostad is cooperating with capital partners such as the Nordic insurance companies Varma and SEB Trygg Liv, as well as the First AP-fund.

For further information see,  www.arosbostad.se

Earlier investments

Novalund, Lund

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. The asset consits of approx. 3.200 sqm and is situated in the dominating retail area in the municipality of Lund, to the North of Malmö.

The asset was divested to Aberdeen in January 2017.
During the lifetime of the investment the lease was re-negotiated and prolonged.

Toftanäs, Malmö

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. The asset consists of approx. 4.800 sqm and is situated in a retail area called Toftanäs, to the East of central Malmö.

The asset was divested to Lomma Tegelfabrik in January 2017.
During the lifetime of the investment vacant areas were leased to new tentants.

CBD, Malmö

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. The asset, which consists of approx. 6.500 sqm, is situated in the prime retail part of central Malmö at Södergatan, and is locally known as “Åhlénsvaruhuset”.

The asset was divested to Cornerstone Pan European Core Fund in January 2016.
During the lifetime of the investment Vencom created a plan for further expansion of the building by adding additional floors.

Arninge, Täby

The asset was acquired in cooperation with Starwood Capital Group in the autumn 2013 and consists of approx. 20.000 sqm. The Arninge retail area is situated in the municipality of Täby, to the North of central Stockholm.

The asset was divested to Trophi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment a plan for further expansion of the asset by approx. 20.000 sqm was initiated, including leasing of most of this space to a number of key retailers.

Boländerna, Uppsala

The asset was acquired in cooperation with Starwood Capital Group in the autumn 2013 and consists of approx. 23.000 sqm. The Boländerna retail area is situated in the municipality of Uppsala approx. 70 km to the North of Stockholm.

The asset was divested to Trophi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment approx. 5.000 sqm of vacant space was leased.

Bäckebol, Göteborg

The asset which consists of approx. 52.000 sqm was acquired in cooperation with Starwood Capital Group in the autumn 2013, with a complimentary acquisition in the autumn 2014. The Bäckebol retail area is situated in the Northern part of the municipality of Gothenburg. The investment offers significant development potential.

The asset was divested to Trophi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment a complimentary asset was acquired, creating the possibility to develop an extension of approx. 10.000 sqm of retail area. Furthermore, a plan for a reconfiguration of the existing retail areas was created.

Jägersro, Malmö

The asset was acquired in cooperation with Starwood Capital Group in the autumn 2013. Jägersro Köpcentrum consists of approx. 30.000 sqm, and is a shopping centre situated in the South-eastern part of the municipality of Malmö.

The asset was divested to Trophi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment Vencom upgraded the external parts of the asset. Furthermore a plan for a reconfiguration of the retail areas was prepared.

Tunapark, Eskilstuna

The asset, consisting of 26.000 sqm, was acquired in cooperation with Starwood Capital Group in the autumn 2013. The Tunapark retail area, which is the dominating retail area in the municipality of Eskilstuna, is situated approx. 110 km to the West of the City of Stockholm. The asset offers development possibilities.

The asset was divested to Trohpi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment the vacancies were reduced by approx. 2.300 sqm.

Värmdö Köpcentrum, Värmdö

The asset was acquired in cooperation with Rockspring Property Investment Managers in the spring of 2012 as part of a portfolio of six retail assets. Värmdö Köpcentrum consists of approx. 15.000 sqm and is the central part of the most important retail area in the municipality of Värmdö, located to the South-east of central Stockholm.

The asset was divested to Alecta in July 2016.
During the lifetime of the investment the structure of part of the building was reinforced and the facade of part of the building upgraded. Furthermore a vacancy of approx. 5.000 sqm was leased.

For further information see www.varmdokopcentrum.com

Weibullsholm, Landskrona

The asset, consisting of approx. 11.000 sqm, was acquired in cooperation with Starwood Capital Group in the autumn 2013. The Weibullsholm retail area is situated in the municipality of Landskrona approx. 30 km to the North of the City of Malmö.

The asset was divested to Trophi, owned by the Third AP-fund, in July 2016.
During the lifetime of the investment Vencom entered into discussions regarding new zoning in the area.

InfraCity

InfraCity is a retail and business park of approx. 200,000 sqm, located halfway between the centre of Stockholm and Arlanda International Airport. InfraCity was acquired in November 2005 in co-operation with Orion Capital Managers. InfraCity offers premises for office, retail, hotel, exhibition and conference activities as well as other service providers.

InfraCity was divested to a consortium of local Swedish institutional investors under co-ordination of the Swedish asset management company Profi in March 2013.

During the lifetime of the investment Vencom repositioned the asset by:

  • Expanding retail – New zoning, conversion of industrial and warehouse space.
  • Improving office location – Improved communications, a wider range of tenant services and an improved selection of retailers, etc.
  • Growing conference hotel – Improved offering and extended lease by 15 years.

Business plan achievements include:

  • New zoning in place creating approximately 130,000 sqm of building rights.
  • Land sold to the German retailer Bauhaus for construction of a new state of the art 17,000 sqm store.
  • Existing industrial and warehouse space converted into retail premises, creating a retail area with critcal mass.
  • Rental income increased by more than 30 per cent.
  • Net operating income increased by more than 50 per cent.

Snowman Retail Portfolio

In 2004 a retail portfolio consisting of 32 retail properties was acquired in co-operation with the real estate investment fund JER Partners.

The portfolio comprised approximately 110,000 sqm of retail space in a number of locations throughout Sweden. The majority of the properties were situated in city centre locations and were leased to Swedish retail companies.

During the investment period more than two thirds of the leases were renegotiated, prolonging the duration of the lease portfolio significantly.