Ontario Teachers’ expands into Swedish residential market

Ontario Teachers' Pension Plan is expanding into the Swedish residential market, acquiring two new Stockholm-area properties with 425 units from Nordic real estate company SBB for SEK 1.2 bn (€109.7 mln).

SBB properties in Sollentuna

The price reflects a 2% discount to the latest valuation after adjusting for deferred tax and project costs. SBB plans to use the proceeds to pay down debt.
The two residential buildings are located in Nacka and Sollentuna, offering about 20,500 m2 of rentable space.
This deal marks Ontario Teachers’ first residential purchase in Sweden and the launch of a partnership with local operator Gordion.
The acquisition supports Ontario Teachers' strategy of increasing its real estate holdings across key European markets with strong fundamentals and long-term demand.
Jenny Hammarlund, senior managing director, Real Estate at Ontario Teachers’, said: “This is a milestone investment for our real estate platform as we expand into Sweden’s residential sector. The acquisition aligns with our long-term goal of building a resilient, diversified housing portfolio in one of Europe’s most attractive urban markets. We’re pleased to be partnering with Gordion, whose deep local expertise complements our direct investment strategy and offers opportunities to create additional value through asset management.”
Samir Taha, CEO and co-founder at Gordion, commented: “We are very pleased to have completed our first transaction with Ontario Teachers’. This partnership brings together long-term capital and local operating expertise to invest in high-quality rental residential opportunities across Stockholm.”
Krister Karlsson, COO and deputy CEO of SBB, added: "SBB developed the properties together with Magnolia until December 2024, when SBB acquired Magnolia's share. The deal is a very good example of how SBB creates value through active property development and is fully in line with our strategy of divesting non-strategic assets. SBB demonstrates its ability to identify profitable projects, carry out development work and realise a return on investment." 
Ontario Teachers’ has made several large logistics property acquisitions in Sweden and Denmark. In March 2025, they bought a portfolio from Blackstone for SEK 1.7 bn (€155.5 mln), and in 2023, they purchased another portfolio in both countries for an estimated SEK 1.5 bn (€137 mln).