CBRE Investment Management Acquires 102-Unit Residential Asset in Täby, Greater Stockholm
October 18, 2023
CBRE Investment Management (“CBRE IM”), on behalf of a fund sponsored by the firm, has acquired a residential asset in Täby, Greater Stockholm, Sweden, from local developer, Aros Bostadsutveckling.
The newly built asset comprises 102 residential units, totalling 7,529 sqm, with each unit approximately 74 sq m. Situated in the attractive and populous area of Täby in Greater Stockholm, close to a new Lidl and tennis facility, the asset is expected to attract families looking to benefit from the area’s waterfront location and beachside activities, as well as its range of sports facilities, care services and schools. The asset can be reached by car, bus or light railway, and Stockholm central is around 20 minutes away by car, or 40 minutes by bus or train.
The asset is targeting BREEAM Excellent, the Swan Ecolabel, Miljöbyggnad (MB), or similar categorization.
Jenny Nygren, Transactions Manager Nordics, at CBRE IM, said: "This was an exciting opportunity to acquire a residential asset in a prime location, close to established hubs set for further development. Rental growth1 is expected to remain strong in Stockholm, underpinned by continued population growth2, a persistent supply-demand imbalance and consequent low vacancy rates1.”
Jenny Tuleby, Head of Transactions and Investment Operations, Nordics, at CBRE IM, said: “This acquisition is in line with CBRE IM’s strategy to grow its portfolio of mid-market residential assets in the Nordics and across Europe.”
1Source: Sweden & Stockholm = MSCI (avg.), Stockholm Prime = Newsec
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $147.6 billion in assets under management* as of June 30, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.