November 20, 2013 - Assignment

KF divests retail parks and shopping gallerias for SEK 3.9bn to Starwood Capital Group

KF Fastigheter, the real estate division of Swedish retail group Kooperativa Förbundet (KF), has divested seven retail parks and shopping gallerias comprising 205,000 square meters to Starwood Capital Group, a leading global private investment firm. The properties are located in Sweden’s four largest cities: Stockholm, Gothenburg, Malmo and Uppsala. The purchase price is approximately SEK 3.9 billion.

Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate.  The company currently has USD 29 billion of assets under management. This is Starwood’s first investment in the Nordic region.

KF Fastigheter is part of The Swedish Cooperative Union, a federation of 41 consumer cooperative societies in Sweden, with over 3 million individual members. The divestment is an important step in KF’s strategy to focus the group’s operations around its core business of grocery retail trade.
KF was advised by Mannheimer Swartling in the transaction. The firm’s team consisted primarily of Mattias Karlsson, Jenny Wärmé, Lukas Dalén and Stephanie Salehian.