Investments

Investments by Vencom Property Partners presently has a market value of approx. Euro 1bn, of which approx. 80 per cent are retail assets. The total retail area in the portfolio is approx. 280,000 sqm. In addition the assets under management offers significant retail development possibilities.

Assets under management include the following:

Retail Greater Stockholm Region, Sweden

Arninge, Täby

The asset was acquired in cooperation with Starwood Capital Group in the autumn 2013. The Arninge retail area is situated in the municipality of Täby, to the North of central Stockholm. The investment offers significant development potential.

No of sqm: 20,000

No of tenants: 12

Boländerna, Uppsala

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

No of sqm: 23,000

No of tenants: 15

Bromma Blocks, Stockholm

The asset was acquired 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.

No of sqm: 55,000

No of tenants: 80

For further information see www.brommablocks.se

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

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 is the central part of the most important retail area in the municipality of Värmdö, located to the South-east of central Stockholm.

No of sqm: 15,000

No of tenants: 25

For further information see www.varmdokopcentrum.com

Greater Gothenburg Region, Sweden

Bäckebol, Göteborg

The asset 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.

No of sqm: 52,000

No of tenants: 28

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

Greater Malmö Region, Sweden

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 is situated in the prime retail part of central Malmö at Södergatan, and is locally known as “Åhlénsvaruhuset”.

No of sqm: 6,500

No of tenants: 1

Jägersro, Malmö

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

No of sqm: 30,000

No of tenants: 59

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 is situated in the dominating retail area in the municipality of Lund, to the North of Malmö.

No of sqm: 3,200

No of tenants: 1

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 is situated in a retail area called Toftanäs, to the East of central Malmö.

No of sqm: 4,800

No of tenants: 4

Weibullsholm, Landskrona

The asset 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.

No of sqm: 11,000

No of tenants: 5

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

Tunapark, Eskilstuna

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

No of sqm: 26,000

No of tenants: 13

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 Swedish postal service, Posten Sverige, 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 strategic 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.

Since 2006 seventeen projects have been initiated, of which six have been finalised up until now, with a total volume of approximately Euro 170m. The latest acquisition was closed in January 2015. In addition to Pramerica Aros Bostad is cooperating with capital partners such as the Nordic insurance companies Varma and SEB Trygg Liv.

For further information see,  www.arosbostad.se

Earlier investments

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 the real estate investment fund 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 was overall responsible for the development and asset management of InfraCity.

During the investment period InfraCity was successfully repositioned:

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

Business plan achievements:

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.

For further information on InfraCity see, www.infracity.se

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.

Business plan achievements:

  • A main component in the business plan was to renegotiate leases and refurbish selected assets.
  • During the investment period more than two thirds of the leases were renegotiated prolonging the duration of the lease portfolio significantly.

The portfolio offered multiple exit routes and as a consequence of a significant yield compression the portfolio was divested during 2005 to a local listed real estate company, in an off market transaction.
For further information regarding JER Partners see,  www.jer.com