Areim Fund II Completes Its First Acquisition
15 October 2012Areim’s new fund, Areim Fund II, has acquired a property portfolio comprising approximately 20 ICA assets, primarily ICA Supermarket and ICA Kvantum stores. The portfolio was acquired from a bankruptcy estate administered by the law firm DLA Nordic. The portfolio was previously owned by REIT.
-We completed the first closing of Areim Fund II two weeks ago and are very pleased to have already carried out the first acquisition for the fund, said Leif Andersson, CEO of Areim. As with previous retail acquisitions we will work together with Möller & Partners in managing the portfolio.
ICA is one of the leading retail companies in Northern Europe with c. 2,100 directly or retailer-owned stores in Sweden, Norway and the Baltics and is a joint venture 40% owned by Hakon Invest AB of Sweden and 60% by Royal Ahold N.V. of the Netherlands.
Areim Fund II will invest in Sweden, mainly in Stockholm, with a focus on value-added investments in the form of office repositioning, retail investments and residential development projects. The fund has an eight-year life with a three-year investment horizon and a total investment volume approximately SEK 6-7 billion when fully committed.
Contact
Name: Leif Andersson
Phone: +46 70 454 65 20
E-mail: leif.andersson[a]areim.se