Union Investment purchases €80m Gothenburg retail park

Union Investment has finalised the acquisition of Kållered Retail Park in Gothenburg, Sweden, from Swedish retail real estate firm Ingka Centres.

Kållered Retail Park in Gothenburg

The purchase price for the approximately 19,400 m2 core property stands at roughly €80 mln.

 The asset will join the portfolio of UniImmo: Deutschland, Union Investment’s largest open-ended real estate fund, which currently holds an asset volume of approximately €15 bn.

Ingka Centres is a subsidiary of the Ingka Group, which includes IKEA Retail and Ingka Investments.

This transaction marks a strategic turning point for Union Investment's open-ended retail real estate funds aimed at private investors, signalling their return to the buying market after three years of deliberate acquisition restraint focused on building liquidity. While the firm's institutional special funds resumed buying activities at the end of 2025, this Swedish retail acquisition represents the flagship fund's first major deployment of capital in the current market cycle.

Karim Esch, member of the management board and CIO of Union Investment, commented: “We have laid the foundation to actively shape the new market cycle in the interest of our investors through predominantly profitable sales. We are therefore very pleased to be able to reinvest part of the proceeds into UniImmo: Deutschland and to further broaden and strengthen the resilience of the fund with a newly built retail park. We are deliberately examining further acquisitions for UniImmo: Deutschland, while keeping a close eye on fund inflows and aiming to stabilize them further. We will continue to actively utilize sales opportunities as well.”

Felix Brandt, senior investment manager at Union Investment, said: “The recently completed Kållered Retail Park fits perfectly into our investment strategy: The fully let retail park is located on one of Scandinavia’s busiest traffic routes in one of Sweden’s strongest regions in terms of purchasing power and growth. Its proximity to the high-profile IKEA creates positive synergies for the retail location.”

Karoline Nader-Gräff, acting Global Expansion & Development director at Ingka Centres, added: “This transaction demonstrates the strong appeal of high-quality, purpose-built retail destinations that meet the evolving needs of both retailers and customers. With its exceptional convenience-focused tenant lineup and strong fundamentals complementing the existing neighbouring retail, the Shopping Park in Kållered represents an attractive long-term investment.”

Union Investment was advised by Gernandt & Danielsson, KPMG, HPC and Drees & Sommer. Panreal acted as the buyer’s commercial advisor. The seller was advised by Mannheimer Swartling. The transaction was brokered by JLL.