JLL advisor to Bonnier Fastigheter in connection with the formation of Trecore joint venture with ICA Fastigheter

Bonnier Fastigheter Invest AB has acquired 50 percent of the shares in the newly formed joint venture Trecore Fastigheter AB, which is owned jointly with ICA Fastigheter (50/50). The portfolio comprises a total of 44 properties located in 38 municipalities across Sweden. JLL has served as advisor to Bonnier Fastigheter in connection with the acquisition.

The lettable area amounts to approximately 151,000 square metres and mainly comprises food stores with long-term leases, such as Maxi ICA Stormarknad, ICA Kvantum, ICA Supermarket and ICA Nära. The underlying property value amounts to nearly EUR 485 billion. The average remaining duration of the leases is just over 13 years.

“This is a company with a first-rate property portfolio of food stores in strong locations. This is also a long-term partnership for us with ICA, which is the market leader in the grocery business in Sweden. The portfolio is essentially fully leased to ICA stores under long-term leases. Bonnier Fastigheter is looking forward to a long-term cooperation. For us, this investment entails greater diversification of risk, at the same time as we gain a long-term stable return at low risk,” says Tomas Hermansson, CEO Bonnier Fastigheter.

“We are proud to be able to support Bonnier Fastigheter as it enters a long-term collaboration with ICA Fastigheter. Reasonable rent levels and long-term leases with ICA as the counterparty create the conditions to generate a stable return at low risk, which suits Bonnier Fastigheter very well,” says Thomas Persson, Head of Capital Markets, Nordics at JLL.