Alecta, a Swedish occupational pension fund manager with approximately $85 billion under management, has completed the sale of a global portfolio in a $2.125 billion sale. The assets are comprised of 47 office, retail, multifamily and industrial assets across the U.S. and U.K. Blackstone purchased the portfolio’s 21 U.S. assets for $1.7 billion while a global investment bank purchased all 26 assets in the U.K. for approximately $375 million. Jones Lang LaSalle secured $799 million in acquisition financing on behalf of Blackstone with The Royal Bank of Canada for the U.S. office, retail and industrial assets. A government-sponsored enterprise provided a $93 million loan for the multifamily assets.
The portfolio includes locations in key gateway markets such as London, San Francisco, Washington, D.C. and Chicago and features a diverse range of high-profile tenants. The U.S. portfolio totals approximately 3 million square feet, and the UK portfolio totals 1.5 million square feet.
