ICA Fastigheter and Bonnier Fastigheter Invest divest real estate company

Nordic commercial real estate company ICA Fastigheter and Bonnier Fastigheter Invest are divesting their shared real estate company, Trecore Fastigheter.

Jan-Erik Hellman

This deal involves Vendus Sweden acquiring 51 retail properties, with 35 coming from Trecore Fastigheter (approx. €149.6 mln) and 16 directly from ICA Fastigheter (approx. €89.8 mln), for a total underlying property value of approximately SEK 2.7 bn (€239.4 mln).

Simultaneously, ICA Fastigheter is purchasing 10 retail properties from Trecore Fastigheter for an underlying property value of approximately SEK 2.9 bn (€258.4 mln).

As part of this intricate agreement, both ICA Fastigheter and Bonnier Fastigheter Invest will become partners in Vendus and are slated to join its board of directors. The transactions are set to be finalised on 1 July 2026, pending FDI approval, and are expected to result in a negative cash flow of SEK 2 bn (€177.5 mln).

Jan-Erik Hellman, CEO, ICA Fastigheter, said: “This is an important deal for ICA Fastigheter's development of the property portfolio, where we streamline our portfolio and can work more efficiently with the development and management of our holdings, while we continue to have influence over the properties that are sold and will be managed by Vendus. Vendus shares our commitment to retail properties, and we look forward to developing Vendus further together with the other owners.”

Catella, Nordanö, Kanter Advokatbyrå, Real Advokatbyrå, and Tellus Tax advised ICA Fastigheter and Trecore Fastigheter in the transaction.