A fund managed by Slättö has agreed to acquire a 40% stake in a high-quality student accommodation portfolio with assets strategically located across Sweden’s university cities. The acquisition is made through a joint venture with the Swedish real estate company Knaust & Andersson Fastigheter AB (publ) (“K2A”).
This marks the first investment by Slättö’s new fund in the Value-Add strategy series.
The student housing portfolio is valued at SEK 3.1 billion (EUR 270 million) and comprises 3,000 student housing units totaling 72,000 sqm lettable area. The assets have excellent locations close to universities and are of high standards, with 75% of the properties being newly built.
Jonas Andersson, Deputy Managing Partner at Slättö, says: “The transaction constitutes the first investment made by Slättö’s new fund in the Value-Add strategy, through which Slättö continues to offer strong risk adjusted returns to our investors. This acquisition further strengthens our position as one of the few players capable of seizing opportunities in an uncertain market and realizing complex deals. Our conviction is that 2024 will be an exceptionally strong fund vintage, given the price correction undergone in the Nordic market, and strong deal flow we’re experiencing from sellers looking to transact off-market.”
You can now read the full press release at the link below
