Dinu Patriciu's Property Firm Sells Sweden Portfolio To Focus On Other Markets

05.12.2011 By Andrei Circhelan

Dinu Patriciu Global Properties (DPGP), owned by Romanian businessman Dinu Patriciu, sold seven office buildings in Sweden, with a total surface of 75,000 sqm, to Swedish Hemfosa Fastigheter, in a plan to focus on other European markets.

The buildings have a 95% occupancy rate, in the city of Karlstad, and tenants include GE, Lindebergs and SWECO Sverige, DPGP said in a news release.

"With strong property conditions prevalent in Sweden and the fact we have been able to maintain a low vacancy rate and improving rent roll, this was an opportune time to exit this portfolio and concentrate on our core markets in other European markets," said Mark Owen, property director at DPGP.

The company holds 117 real estate assets evaluated at some EUR1.3 billion in total, in Germany, Romania, Poland, the Netherlands and Belgium.

Hemfosa Fastigheter was founded in 2009 and it specializes in real estate transactions and property management, especially in Sweden.