Nordic private equity company Sveafastigheter said that Sveafastigheter Fund III has partnered with local asset management partner Mattila & Saxen Property Partners to acquire a portfolio of 10 retail properties in Finland for around EUR 50 mln.

The portfolio offers a total lettable area of 55,000 m2 comprising assets in eight different cities; Heinola, Hämeenlinna, Joensuu, Parainen, Porvoo, Rovaniemi, Vaasa and Vantaa. The properties were acquired from five different sellers in five different transactions.

'We have together with our partner Mattila & Saxen been able to create a well-diversified retail portfolio with a strong cash flow,' said Jonas Ahlblad, director at Sveafastigheter. 'These types of properties are difficult to finance on a stand-alone basis, but by lining up a number of different sellers and synchronising the execution of the acquisitions, we have been able to secure financing on good terms with Nordea.'

He added that the fund continues to look for acquisition opportunities to further grow this portfolio.

'The properties are occupied by a good mix of retail chains with long average leases,' added Teemu Saxén, partner at Mattila & Saxen Property Partners. 'Through active management and by investing in the properties we believe we can further improve the properties and make them more attractive for the customers of our end users.'