Successful divestment of a complex, mixed-use portfolio
In one of the largest non-residential transactions in Stockholm in 2018, JLL achieved significant client satisfaction thanks to dedicated advisory and a record sales price of almost EUR 100 million.
Over 100 tenants
Almost EUR 100 million
JLL’s capital markets team has a long history and strong relationship with Profi Fastigheter, one of Sweden’s largest value-add real estate managers. In this case, Profi required transaction advisory regarding the sale of a mixed-use portfolio in suburban Stockholm, totaling six properties and over 100 tenants.
The teams worked closely together to highlight the different asset characteristics and future asset management potential. With the properties distributed across multiple locations, great emphasis was put on describing each submarket and its future market potential. Given the diverse characteristics of the portfolio, investors could either acquire the whole portfolio or place bids on separate sub-portfolios as well as single assets.
The team started out by analysing potential regional market growth, in order to strengthen the opportunity and create a detailed sales story. The sales process was catered to the specific opportunity which was marketed through a bespoke micro site, high-quality marketing documentation, as well as the marketing strategy of a broad, structured investor approach with personal presentations.
JLL received strong interest from both domestic and international investors, creating a strong competitive environment. In order to maximize deal certainty and price, selected investors were invited to do a first phase DD following the submission of second round bids. The process from start to deal closing took five months with the purchaser being the publicly traded Swedish real estate company Stendörren.