Brunswick Real Estate’s debt financing arm finances Stockholm retail portfolio

STOCKHOLM, 01 December 2015:
Brunswick Real Estate has supported the acquisition of two retail properties in Stockholm with a loan from its debt financing arm Leimdörfer Real Estate Capital (LREC).

The European investor Revcap and its local partner acquired Orminge Centrum and Rotebro Handel from the listed company Atrium Ljungberg using senior secured financing from LREC.

The properties provide approx. 32,000 sqm of retail premises producing a rental value of approx. SEK 55 million (EUR 5.9 million). Both assets are well located in the Stockholm region.

Louise Richnau, Chief Executive Officer at LREC Advisory, said:
“We are delighted to have supported Revcap to secure these two retail assets. We established the first real estate debt fund in the Nordics because we knew there was significant appetite among investors for an alternative to traditional bank lending.”    

Revcap, which has offices in Stockholm, London, Paris and Frankfurt, targets small and medium sized real estate co-investment opportunities and has more than 250 individual investments across Europe. Since inception, Revcap has generated an exposure to approximately GBP 4.7 billion of European real estate assets.

Stefan Lanefelt, from Revcap, said:
“We are very pleased to have acquired these assets which have great potential and are well-situated in areas of strong growth. We appreciate the support provided by LREC, which was able to provide a flexible financing solution well-suited to our needs.”

Debt fund Leimdörfer Real Estate Capital I (FCP-SIF) offers senior loans with terms of up to eight years. A loan provided by the fund earlier in the year, was to a company managed by Pareto Securities- to acquire and extend the main logistics facility of XXL in Örebro.