Swedish real estate investor Revelop has acquired an urban industrial property in the Stockholm area from the bankruptcy estate of Oscar Properties.
Revelop has had a strong start to the investment year, capitalizing on market dislocation. In five separate transactions, the company has acquired a total of 20 assets spanning approximately 96,000 sqm, representing an asset value of SEK 1.5 billion. These acquisitions follow Revelop’s recent success in securing SEK 2.9 billion in equity commitments for its latest value-add fund over the past ten months.
The most recent acquisition—Sicklaön 88:1—consists of 7,585 sqm of industrial and B2B retail space in a strategic location directly opposite the Sickla shopping district in the rapidly growing Nacka Municipality. With an economic vacancy rate of 55 percent, the asset presents considerable potential for value creation through leasing, repositioning, and development.
“This acquisition aligns with our strategy of actively seeking assets with strong value-creation potential in submarkets experiencing robust structural growth,” says Thomas Sipos, Group CEO and Executive Partner at Revelop.
Sickla is a key growth area within the expanding Nacka Municipality in the Stockholm region, where 11,300 residential units and 10,000 new workplaces are either planned or under construction. The new metro line to Nacka will further enhance the area, with a station in Sickla located in direct proximity to the asset. Additionally, being directly opposite the Sickla shopping district gives the property a strategic, high-visibility position. Revelop plans to incorporate its proprietary self-storage concept, SPACE, into the asset.
“I am very pleased that we were able to acquire this asset at an attractive value from the Oscar Properties bankruptcy estate, after years of proactively pursuing it from the previous owner,” says Thomas Sipos.
Revelop will implement a comprehensive CAPEX program, addressing tenant improvements, technical upgrades, and deferred maintenance. This program includes ESG initiatives aimed at reducing CO₂ emissions and lowering energy consumption by 30 percent.
