Press release -
Storebrand gears up its focus on properties in the new company Storebrand Real Estate
In response to investors' growing interest in the Nordic real estate market, Storebrand has chosen to streamline its corporate structure and gather its expertise in real estate in an independent company, Storebrand Real Estate.
The establishment of Storebrand Real Estate aims to offer institutional and professional investors a more focused and scalable access to Nordic real estate investments. The formation is also part of the work to streamline the company structure and gather expertise in investments and management of properties in one company.
The real estate business in Sweden, Storebrand Fastigheter, is merged into Storebrand Real Estate as a Swedish branch. Capital Investment, which is currently responsible for the real estate operations in Denmark, will continue as a subsidiary under Storebrand Real Estate. The common structure creates more uniform processes for investors seeking Nordic real estate exposure.
Storebrand Real Estate, which currently manages approximately EUR 9 billion, is a wholly owned subsidiary of Storebrand Asset Management, which in turn is owned by Storebrand ASA. Together with the Group's life insurance companies, there is a long history of managing capital through different market cycles, with a focus on stable cash flows and long-term value creation.
Storebrand Real Estate is approved as an AIF manager by the Norwegian Financial Supervisory Authority. The AIFM authorisation ensures robust governance, risk management and investor protection.
New board member
In connection with the formation of the new company, Anders Palmgren was appointed as a new member of the Board of Directors of Storebrand Real Estate.
- Anders Palmgren brings with him considerable experience from Nordic property management and not least international capital raising. I am pleased that Anders is joining the Board and thereby strengthening our further investment in real estate as an alternative asset class, says Jan Erik Saugestad, CEO of Storebrand Asset Management and Chairman of the Board of Storebrand Real Estate.
Responding to increased customer interest
International investors have increasingly started to invest capital in alternative asset classes such as private debt, private equity, infrastructure and real estate. Interest in Nordic properties is steadily increasing, not least because the market is characterised by stable institutional frameworks, high transparency and liquidity, which makes exposure an attractive element in a diversified portfolio.
-The new company Storebrand Real Estate enables closer collaborations and creates more clarity in the Nordic real estate market. We also maintain our local roots with offices in our respective markets. With the new organisation, we are advancing our positions, not least through the new SNRE Nordic core plus funds, says Truls Nergaard, CEO of Storebrand Real Estate.
Strong team
Storebrand Real Estate's team currently consists of over 80 specialists throughout the Nordic region. The team's in-depth expertise extends across the entire real estate value chain, from transactions to renovations and rental processes.
- We have a very strong and experienced team, where each employee has an average of 16 years of industry experience. For over a decade and a half, we have delivered great results to our clients, through our 250 properties and more than 2 million square meters of leasable area, and we are only at the beginning of our growth journey. The integrated expertise creates the conditions for active management and value creation with a focus on competitive risk-adjusted returns over time, says Nergaard.
Intensified focus on sustainability
Sustainability is an integral part of the daily work with the selection and management of the properties. Storebrand has a strong overall sustainability performance according to GRESB (Global Sustainability Benchmark for Real Assets).
- Storebrand has been a pioneer in sustainable investments for over 30 years. The construction and real estate industry accounts for a large part of the Nordic region's total carbon dioxide emissions. At Storebrand Real Estate, we therefore work systematically to reduce our environmental footprint in everything from development and renovations to day-to-day operations. By measuring and improving energy, water and waste management, our goal is to offer customers a robust and attractive portfolio, says Truls Nergaard, adding:
- Structured sustainability work also contributes to lower operating costs, reduced regulatory risk and improved resilience of the property, which strengthens the portfolios' long-term return profile for investors.
Topics
Categories
Storebrand Asset Management is part of the Storebrand Group, managing over NOK 1500 billion of assets for Nordic and international clients.
