Union Investment has acquired the approximately 19,400m2 Kållered Retail Park retail park in Gothenburg for the portfolio of its open-ended real estate fund UniImmo: Deutschland. The purchase price is around 80 million euros. The seller is the Swedish retail real estate company Ingka Centres, which is part of the Ingka Group, which also includes IKEA Retail and Ingka Investments.
After around three years of consistent restraint in which liquidity procurement was prioritised, Union Investment is now returning to the buying side with its open-ended real estate mutual funds for private investors. Union Investment has been active as a buyer of the special funds again since the end of 2025.
"Through predominantly profitable sales, we have created the basis for actively shaping the new market cycle in the interests of our investors. We are therefore very pleased to be able to reinvest part of the proceeds generated for UniImmo: Deutschland and to position the fund even more broadly and resiliently with a newly built retail park," says Karim Esch, Member of the Management Board and Chief Investment Officer of Union Investment Real Estate GmbH.
Esch: "We are examining further acquisitions for UniImmo: Deutschland, but at the same time we are keeping an eye on the development of the middle rivers and want to stabilise them further. To this end, we will continue to actively exploit sales opportunities." UniImmo: Germany is Union Investment's largest real estate fund, with a current fund volume of around EUR 15 billion.
Stable earnings generator for UniImmo: Germany
"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 transport axes in one of Sweden's strongest regions with purchasing power and growth. The proximity to the radiant IKEA creates positive synergies for the retail location. With its focus on local supply and a high energy efficiency standard using renewable energies from photovoltaic and geothermal systems, the property actively contributes to achieving our sustainability goals and strengthens the fund's performance," says Felix Brandt, Senior Investment Manager at Union Investment.
"This transaction underlines the strong appeal of high-quality, purpose-built retail locations that meet the evolving needs of both retailers and customers. With its exceptional tenant mix focused on local amenities and solid fundamentals that complement the existing retail offering in the neighbourhood, Kållered Retail Park represents an attractive long-term investment. We are very pleased to be working with Union Investment on their re-entry into the Swedish retail market and are confident that the property will continue to be successful under its new owner," says Karoline Nader-Gräff, Acting Head of Global Expansion and Development at Ingka Centres.
Union Investment was advised on the legal aspects of the transaction by Gernandt & Danielsson, on tax law by KMPG and technically by Drees & Sommer. Panreal from Gothenburg acted as buyer-side transaction advisor. The seller was advised on legal matters by Mannheimer Swartling and on tax matters by EY. JLL brokered the transaction.
