Stockholm 12 July 2021 – CBRE Global Investors, on behalf of one its pan European Funds, has agreed a forward commitment purchase of two residential projects in Stockholm from local developer, Aros Bostadsutveckling.
The projects are located in Nacka and Täby, Greater Stockholm. Due for completion in 2023, the Nacka asset comprises 104 residential units, 245 sq m of commercial space, as well as 52 parking spaces. Meanwhile, the Täby asset comprises 102 residential units and 96 parking spaces and is set to complete in mid-2023. Central Stockholm can be reached within 20 minutes from both assets, via public transport.
“This was a rare opportunity to acquire a portfolio of build-to-rent properties, in two attractive locations ranked within the top ten in Sweden for income level*. There is strong demand for rental units in Stockholm, with vacancy rates generally very low, so we expect these assets to perform well providing secure long-term income for our investors. said Andreas Norberg, Head of Investment Operations, Nordics, CBRE Global Investors. “In the past six months, we have been active in the Nordic residential sector acquiring over €245 million of residential assets for a variety of investors, “he added.
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $124.5 billion in assets under management* as of March 31, 2021. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.