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Pangea advisor in the largest private real estate transaction in the Nordics ever!

Press release -

Pangea advisor in the largest private real estate transaction in the Nordics ever!

Pangea Property Partners is proud to have acted as financial adviser to Akelius Residential Property AB (Publ) on the sale of 28,776 apartments in Scandinavia and Germany to Heimstaden Bostad AB at EUR 9.1 billion (SEK 92.5 billion), making this the largest private real estate transaction in the Nordics ever and one of the largest in the world.

“This is probably the finest residential portfolio ever traded in Scandinavia and Germany. Investor interest has been huge, global and extremely competitive. It has been an extremely swift process with a professional buyer and seller, I’m really impressed how they performed. It is especially pleasing to observe the high activity in the market as the Nordic countries are opening up again,” says André Lundberg, Head of Corporate Finance & Partner at Pangea Property Partners.

Gigantic portfolio
The record-breaking transaction comprises 28,776 apartments in total, which is all of Akelius’ real estate assets in Sweden, Denmark, and Germany. The Scandinavian portfolio comprises 5,934 apartments in Stockholm, 4,107 in Malmö, and 1,093 in Copenhagen. The German portfolio includes 14,050 apartments in Berlin and 3,592 in Hamburg.

Local staff follow the properties to the buyer. Planned closing is in 2021 subject to merger clearance in Germany and Sweden.

Cross-border transaction
The buyer is the residential investor Heimstaden Bostad AB, who increases its position in both Germany and Scandinavia (Sweden and Denmark) significantly.

“We are very proud to have been part of this milestone of a transaction, and to continue to be the chosen advisor on the largest and most complex transactions in the Nordics,” says Lundberg.

Earlier this week and prior to this transaction, Pangea Property Partners was ranked the number one advisor in Sweden in the first half of 2021 by Fastighetsvärlden, with 14.3 percent market share measured in transaction volume.

Related material:
Akelius Residential Property AB, press release, link
Heimstaden Bostad AB, press release, link

For more information:
André Lundberg, Head of Corporate Finance & Partner
(+46) 70 676 72 40, andre.lundberg@pangeapartners.se

Mikael Söderlundh, Head of Research & Partner
(+46) 73 770 77 90, ms@pangeapartners.se

Aleksander Lee Olsen, Head of Communications
(+47) 415 79 725, alo@pangeapartners.no

Subjects


Pangea Property Partners is an independent Nordic corporate finance, project finance and advisory firm focusing on the real estate sector. The company has offices in Oslo and Stockholm with 50 employees, and a strategic partnership in Finland. Since 2010, Pangea has advised on +650 transactions with an underlying property value of €+50 billion. The mandates include buy side and sell side transactions, M&A, large corporate transactions, syndication projects, capital raisings and debt financing/refinancing.

Nordic Transaction Power

Pangea Property Partners is an independent Nordic corporate finance, project finance and advisory firm focusing on the real estate sector. The company has offices in Oslo and Stockholm with 50 employees, and a strategic partnership in Finland. Since 2010, Pangea has advised on +650 transactions with an underlying property value of €+50 billion. The mandates include buy side and sell side transactions, M&A, large corporate transactions, syndication projects, capital raisings and debt financing/refinancing.

Pangea Property Partners
Tjuvholmen Allé 3 | Norrlandsgatan 15
0252 | 10395 Oslo | Stockholm
Norge | Sverige