15 February, 2021

Record number of listed property companies

 

“The Nordic listed property sector has never been this large before,” says André Lundberg, Head of Corporate Finance & Partner at Pangea Property Partners.

2020 became the ninth consecutive year where Nordic property shares delivered positive returns, after a strong recovery since the bottom in March 2020. The sector has risen by 53 percent and Nordic property shares are now on average valued 16 percent above their net asset values (as of 12 February 2021).

“We see that the strong valuation on the stock market, especially in Sweden, incentivizes new companies to go public. In 2020, eight new property companies have been listed in Stockholm and there are more companies in the pipeline,” says Lundberg.

Lundberg is one of the founding partners of Pangea back in 2009. He has originated many of the largest and most complex transactions in the Nordic region over the last 10 years. As examples, he has advised Castellum and Lilium in a SEK 5.2bn swap deal, Starwood’s acquisition and sale of shares in Victoria Park with an underlying property value of SEK 17.2bn, and Castellum on the SEK 26.2bn acquisition of Norrporten.

To news archive