Grosvenor Fund Management (GFM) has bought a major Swedish shopping centre from RBS.
The Ska虉rholmen Centrum in the suburbs of Stockholm was bought for GFM鈥檚 Retail Centres V (Sweden) fund, which is backed by Finnish institution Varma, among others.
Ilkka Tomperi, investment director of real estate at Varma, said Sweden was a 鈥渘atural choice鈥� and that the investment in Ska虉rholmen Centrum followed other recent investments in the Stockholm region.
Royal Bank of Scotland, according to local media, began a sales process late last year.
The bank appointed CBRE to find a buyer for the property more than three years after taking control of the Centeni company, which held a portfolio of 10 retail assets bought by Boultbee in 2007.
That deal had been financed by RBS and Lehman Brothers.
Ska虉rholmen is the last of the portfolio to be sold, it is understood.
The 98,000sqm asset is let to 175 retailers, including an ICA grocery store and H&M.
Giles Wintle, regional director at GFM Europe, said Ska虉rholmen Centrum was a 鈥渦nique asset鈥�.
The company, he said, would look to drive footfall and sales at the centre.
GFM now has five shopping centres in Stockholm and Malmo虉.
