Hines, the global real estate investment manager, has strengthened its Nordic platform with the acquisition of an eight-asset industrial and logistics portfolio in Sweden. The purchase, made on behalf of the Hines European Core Fund (HECF), reflects the firm’s strategy of scaling both logistics and residential platforms across the country. It is reported as Hines’ second industrial deal in Sweden since entering the market in 2024 and marks the third overall acquisition for HECF in the country in 2025.
Portfolio Details
The portfolio spans around 70,500 square meters of lettable space and was 96 percent occupied at the time of closing. The assets are located in Sweden’s two largest metropolitan regions:
- Gothenburg: properties in Backa and Härryda, positioned near the Port of Gothenburg and Landvetter Airport
- Stockholm: properties in Sollentuna, Haninge and Huddinge, with direct access to major transport corridors including the E4 and E20
The tenant base includes companies such as Assa Abloy, Pilkington, Dafo Brand and Tesla, underlining demand from industrial, technology and automotive sectors for high-quality, mid-box logistics facilities.
Vendor and Advisory Teams
The seller was Mileway, Blackstone’s last-mile logistics platform.
Advisory roles included:
- Roschier for Blackstone and Mileway
- Lindahl and SEP advising Hines
- PwC overseeing financial and tax matters
- Croisette and Knight Frank as brokerage advisors
- CBRE Sweden as transaction advisor for the seller
Expansion Beyond Logistics
Beyond logistics, Hines is also building scale in Sweden’s residential sector. Recent transactions include:
- A forward funding deal for new rental apartments in Kista, Stockholm’s technology district, targeting Miljöbyggnad Silver sustainability certification
- The acquisition of a residential scheme in Haninge, expanding Hines’ Swedish living portfolio
Together, these investments highlight Hines’ dual-track strategy in the Nordics, combining logistics and living assets as resilient long-term sectors.
Market Context
Sweden remains the largest real estate investment market in the Nordics, with activity rebounding in 2025 after two years of slowdown linked to higher interest rates and economic uncertainty. Logistics hubs around Gothenburg and Stockholm are among the most competitive in Scandinavia due to limited supply, strong consumer demand and their role as gateways for regional distribution.
Institutional investors are increasingly targeting ESG-compliant logistics facilities, aligning with corporate occupier requirements for sustainable and efficient buildings. This shift is boosting the appeal of core logistics portfolios to long-term investors such as HECF.
Nordic Investment Trends
Transaction volumes in Sweden are driving the wider Nordic rebound in 2025. Both domestic and foreign capital remain active, while private-equity-backed operators like Mileway, NREP and CTP continue to recycle capital from stabilized portfolios into development pipelines. This dynamic allows long-term core funds to secure stable income assets while freeing developers to reinvest in growth projects.
Strategic Value for HECF
For HECF, the Swedish portfolio combines income stability with growth potential. Near-full occupancy ensures strong cash flow from day one, while prime locations in supply-constrained markets offer room for future rental growth.
“We believe that current pricing levels offer an attractive entry point to a market where we see very strong fundamentals. We are delighted to capitalise on these conditions with the Fund’s third acquisition in Sweden since the beginning of 2025.”
— Simone Pozzato, HECF fund manager
Pozzato emphasized that Sweden stands out as one of Europe’s most resilient industrial markets, supported by strong occupier demand and structural rental growth.
“These assets not only strengthen our existing Nordic platform but also advance our long-term strategy of building scale in high-performing industrial locations across Europe, where we see durable growth and value creation.”
— Staffan Unge, Head of the Nordics at Hines
Unge noted that the locations in Gothenburg and Stockholm align directly with Hines’ Northern European expansion strategy, combining solid logistics fundamentals with high-quality tenants.
Key Takeaway
Hines’ latest Swedish acquisition reinforces its commitment to a multi-sector Nordic platform, anchored by logistics and residential assets. With prime properties in Stockholm and Gothenburg, stable occupancy and institutional-grade tenants, Hines is positioned to capture both immediate income and long-term capital appreciation in Sweden’s recovering real estate market.
