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.