The Standard Life Investments European Real Estate Club acquisition of Länna Retail Park in Stockholm, Sweden, has been completed
Länna Retail Park, located close to the southbound motorway towards Nynäshamn, opened in 2002 with a total of 33,400 sqm of retail space, currently leased to 12 tenants, anchorde by hypermarket City Gross, and consumer electronic chains Media Markt and Elgiganten.
“This deal is a strong continuation of the fund’s investment programme. Our strategy is to focus on prime assets in core European markets with some measured risk, and this acquisition perfectly reflects this approach. Retail sales in Sweden have grown steadily in recent years and Länna Retail Park is well placed to take advantage of further local growth, ” comments Daniel McHugh, Head of Continental European Real Estate at Standard Life Investments.