Tredje AP-fonden (AP3), Sweden鈥檚 third national pension fund, and Fastighets Balder have bought a portfolio of Swedish residential property assets.
The portfolio of 21 residential properties was sold by Aberdeen for SEK2bn (鈧�213m).
The 71,000sqm portfolio includes around 1,200 apartments in Stockholm and 脰resund.
Erik Selin, chief executive at Fastighets Balder, said: 鈥淭his portfolio fits very well into our long-term investment in housing, together with the Third Swedish National Pension Fund.鈥�
AP3 took a 50% stake in Hems枚, a subsidiary of real estate firm Kungsleden.
The transaction covering 239 properties was valued at around SEK14.6bn.
Sweden鈥檚 AP1 and AP2 and US institution TIAA-CREF the pooling of their European real estate portfolios to create a 鈧�4bn joint venture.
The Swedish buffer funds seeded the new entity with six properties managed by Cityhold Property.
