RED is making a move to actively invest in the Retail Park segment. This marks a significant milestone in the company’s history.

From left; Ronald Rico, Peter Åman 

RED and Stadsbyggen acquire Ingelsta Handelscentrum in Norrköping

 

RED (Rico Estate Development AB), in partnership with Stadsbyggen (Svenska Stadsbyggen i Nacka Strand AB), has acquired Ingelsta Handelscentrum from the German fund DEKA. The retail area spans nearly 40,000 square meters and houses thirteen strong retail actors including BAUHAUS, Willy’s, Jula, and RUSTA.

The newly formed company Forum Tenax AB takes immediate ownership of the property. This marks the company’s first joint investment establishing a solid platform for future collaborations and projects.

RED is a market leader in the development of Retail Parks and is renowned for its ability to create attractive Retail Park environments through business and concept development. Over the past fifteen years, RED has successfully developed over 100,000 square meters of new Retail Park, generating a value of approximately 1.5 billion SEK.

Stadsbyggen is a real estate company focused on the development and management of warehouse, light industrial, and community properties. Since its inception in 1992, the company has developed and managed a significant number of properties and projects, always aiming to create environments conducive to attractive living or efficient operations.

“RED has previously been involved with Ingelsta Handelscentrum, having acquired the retail area in 2017 alongside the British fund Standard Life Investments. We executed a rapid restructuring, initiated a new detailed plan, and participated in the sale of the area in 2019 to DEKA. Now, having the opportunity to repurchase the area with a stable partner that also has extensive experience in property development gives us great potential to complete the development project we started in 2017. We look forward to continuing the enhancement of Ingelsta, which we believe has the best location in Norrköping,” says Ronald Rico, CEO of RED.

“For us at Stadsbyggen, partnering with RED represents an opportunity to enter the Retail Park market with a perfect ally, with the ambition to grow through more deals in the future,” says Peter Åman, CEO of Stadsbyggen.

 

We thank Advokatfirman KANE, who acted as legal counsel in the transaction, as well as SKIERFE Advokatbyrå, Tellus Tax, and EY Real Estate, who collectively managed the due diligence process.

 

”We Know RetaiI Parks”

  

For further information, please contact Ronald Rico (CEO RED) at +46 (0) 70-8 99 10 10.