During a turbulent 2023, Revelop had a strong investment year taking advantage of the market dislocation. In 7 individual transactions, a total of 11 assets comprising 50,000 sqm were acquired during 2023, representing SEK 1 billion in asset value. Revelop’s investment strategy is to acquire assets with value-add potential in sub-markets with strong structural growth.
With ESG in focus, Revelop will transform the assets from brown to green with a clear ambition to extend the life of the existing buildings. In addition to reducing embodied- and operational carbon emissions Revelop’s strategy is to create sustainable core assets that contribute to more attractive and safer environments for the benefit of the local community.
During 2023, Revelop has proactively taken advantage of the evolving market dislocation executing on add-on acquisitions in Stockholm and Gothenburg to create strong clusters.
Just before the year’s end, the latest add-on investments were made – Rud 51:20 and Torrekulla 1:88, both in the Gothenburg region. The industrial assets are fully let and acquired from private sellers. The total combined lettable area is 6,800 sqm and both assets are located in Revelop’s prioritized sub-markets. The respective business plans include substantial value-add investments to create modern last mile/urban industrial assets, including Revelop’s self-storage concept, with the highest possible ESG credentials.
At the end of November Revelop also completed on the acquisition of the three assets Grammet 1, Pundet 1 and Vävnaden 1, from the Swedish listed residential development company JM, with significant value-add potential in Brommaplan, Stockholm. With this acquisition, Revelop expands its existing investment in Brommaplan. As a result, Revelop has now created a 24,000 sqm strong cluster in one of Stockholm’s most affluent areas with a high daily footfall.
Revelop aims to continue to develop and revitalize Brommaplan to create an attractive and modern necessity and social infrastructure hub for people living and working in northwestern Stockholm.
“Our strong investment year is a result of our proactive research-driven sourcing, local market knowledge and conviction in our selected sub-markets as well as sectors. We have a strong belief in urban industrial, mixed-use and social infrastructure assets with repositioning and development potential. We are very grateful for the continued support from our investors during turbulent times and with significant available capital we look forward to selectively taking advantage of the evolving market dislocation going forward,” says Thomas Sipos, Group CEO and Executive Partner at Revelop.
