CBRE Global Investment Partners has invested in Swedenβs retail sector.
The manager said it has bought Bromma Blocks in Stockholm for an undisclosed amount from Starwood Capital.
The asset was bought for GIPβs European Co-Investment Fund, the firmβs European value add program, in a joint venture with Vencom.
βThe acquisition of Bromma Blocks is in line with one of the fundβs key strategies β to acquire dominant retail assets in liquid markets that can be enhanced through further development and refurbishment,β said Charles Baigler, fund manager of ECF. βWe are working with a specialist local operating partner to deliver the business plan.β
The Bromma Blocks asset, 8km west of the Stockholmβs central business district, is 96% leased.
Around 25,000 sqm of the 57,000 sqm property is a shopping centre, with the remainder a retail park.
Tenants include Coop and H&M.
