Heimstaden and Allianz Real Estate, owned by Ivar Tollefsen, have created a joint venture. It will manage a portfolio of properties in Malmö and Stockholm worth NOK 29 billion.
Allianz Real Estate, part of the German giant Allianz Group, is investing 7.7 billion NOK in the Swedish property portfolio in Heimstaden.
These are the properties that Heimstaden announced its purchase in September. Then it became known that the company owned by Ivar Tollefsen spends nearly NOK 91 billion for more than 28,000 homes in Berlin, Hamburg, Stockholm, Malmö and Copenhagen.
Allianz now buys 99 properties with homes located in Malmö and Stockholm, it is said in one press release.
Furthermore, Heimstaden and Allianz are collaborating to form a joint venture that will manage the entire Swedish portion of the aforementioned real estate portfolio. It consists of 9,300 homes in Malmö and Stockholm with a total value of over NOK 29 billion.
We are pleased to be part of a joint venture with such a large and diverse portfolio. The stability of the real estate sector makes it very attractive to investors with a long horizon, commented Annette Krueger, Senior Director of Allianz Real Estate Northern and Central Europe.
He made a giant of Heimstaden
When Heimstaden announced 28,766 home purchases, that meant the company’s home inventory had increased by nearly a quarter.
Together, they will give Heimstaden approximately NOK 2.8 billion in rental income each year.
Tollfsen has made a remarkable stride in moving its companies from the Nordic countries to the global elite. Within five years, he has more than doubled the property values in the group he controls.
Another key to explaining how Tollefsen became one of the largest property owners in the Nordic region lies in the cooperation between Heimstaden and the Swedish pension company Alecta.
The investment club that was created, they eventually called Heimstaden Bostad. Through this company large foreign investments are made.
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Here you can read more about how Ivar Tollefsen built a European real estate empire
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