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Swedish resi JV formed by Allianz and Heimstaden Bostad.

Allianz Real Estate has invested €767 million (SEK 7.9 billion) in Heimstaden Bostad's portfolio in Sweden, forming a joint venture (JV) on the €2.9 billion (SEK 30.4 billion) property strategically located in Malmo and Stockholm, on behalf of Allianz firms.

Annette Kroger, CEO North & Central Europe for Allianz Real Estate, said: “We are very pleased to enter into this joint venture covering such a well-diversified, sizeable portfolio. Our renewed interest in the residential sector is a deliberate adjustment to our investment strategy; the sector’s stability makes the sector highly attractive to long-term investors. The fundamentals in the Nordics are strong, the residential market is well-established, and we have actively targeted growth in this region.”

Allianz Real Estate's Head of Acquisitions & Sales North & Central Europe, Nicole Potsch, commented: “We are excited to launch this partnership with Heimstaden Bostad AB, a leading, best-in-class residential operator, and we look forward to this transaction being the start of a strong venture. We very much appreciate Heimstaden’s entrepreneurial approach and tenant-centricity combined with a joint view on ambitious ESG targets that we would like to realize for this portfolio.”

Patrik Hall, CEO of Heimstaden, said: “We are pleased to partner with Allianz, which is a global and reputable long-term investor with significant experience within the real estate sector. Their substantial investment and long-term commitment show trust and confidence in our platform and operational expertise, and we look forward to building a strong and lasting partnership.”

Magnus Nordholm, Deputy CEO and Head of ECM at Heimstaden, added: “Allianz shares our evergreen perspective and customer-centric mindset, and this partnership is a testament to our strategy of responsible growth with a scalable operational platform. Allianz is the fourth investor to partner with Heimstaden Bostad in 2021, further strengthening our capital structure and our position as a leading European residential real estate company.”

(Report by: The Decision Maker – Real Estate editors)


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