• EQT Exeter to sell modern education property in central Stockholm to Alecta Fastigheter, the real estate company of the Swedish pension fund manager Alecta
• EQT Exeter has transformed the asset from an obsolete 50 percent vacant Grade C mixed-use building into a sustainable Grade A educational-use property that will host four upper secondary schools for 2,200 students in an attractive and densely populated neighborhood
• The property will meet the standards for BREEAM In-Use “Very Good” with a high emphasis on sustainable and environmentally friendly building techniques such as recycling of construction materials, energy efficiency improvements and upgrades to the building fabric to improve thermal performance

EQT Exeter is pleased to announce that EQT Real Estate Fund I (“EQT Exeter”) has agreed to sell Hönsfodret 1 (the “Property” or “Southside”) to Alecta Fastigheter, the real estate company fully owned by Alecta, one of Sweden’s largest pension fund managers.

EQT Exeter acquired the Property in June 2018 after having recognized the need for modern educational-use assets as particularly high in central Stockholm due to the city’s demographic development and rapidly increasing population. The Property, located on the island of Södermalm in Stockholm, was a half vacant, mixed-use building comprising a school and office space at the time of the acquisition.

In collaboration with AcadeMedia, a leading education provider in Northern Europe, EQT Exeter developed a clear strategy to refurbish the Property into a prime education building with an increased lettable area. EQT Exeter and AcadeMedia signed a 16-year lease to realize the vision for “Campus Södermalm” that will host four Upper Secondary Schools for approximately 2,200 students.

Under its tenure, EQT Exeter obtained a building permit to expand the Property from approximately 9,500 sqm NLA (Net Lettable Area) to more than 14,000 sqm by exercising the unutilized building rights. EQT Exeter has also undertaken actions to meet the industry standard BREEAM In-Use “Very Good” in the final detailed design. Throughout the development process, EQT Exeter has prioritized environmentally friendly building techniques and incorporated multiple key sustainability features as part of the process of securing key constituent consent. These efforts include recycling of construction materials, efficiency improvements via real-time energy usage monitoring and upgrades to the building fabric to improve its thermal performance.

Campus Södermalm will promote a healthy lifestyle with prominence of the stairwells over elevators, a gym and conversion of former car parking to a generous amount of bicycle parking spaces to encourage students to choose active means of transportation to and from school. Moreover, the adjacent local community will be able to enjoy a publicly accessible, student-operated café, bakery and restaurant on the ground floor of the Property. EQT Exeter and its building contractor Zengun are currently in the final stages of completing the development which is expected to take place during Q2 2022, ahead of the academic year 2022/23.

Henrik Orrbeck, Partner within EQT Exeter’s Advisory Team, said, “We are proud to hand over the Property to Alecta after a successful transformation project where we have turned a half-vacant building with poor energy performance into a flagship “green” campus that meets modern demands for attractive and inspiring education premises. This transaction perfectly exemplifies the investment philosophy of EQT’s real estate platform, EQT Exeter, using our value-creation toolbox to deliver a core building into the highly sought-after institutional real estate market of Sweden. We would like to thank our contractor Zengun and project manager Tjuren Projektpartner for a well-managed construction process and, of course, our tenant AcadeMedia for trusting us to develop their new flagship campus.”

Jenny Lindholm, CIO, Alecta Fastigheter, said, “We are very pleased with this acquisition, it’s completely in line with our ambition to drive sustainable and long-term development in attractive growth areas. This state-of-the-art educational property that will meet the standards for BREEAM In-Use “Very Good” certification further strengthens our position within the community service segment. We look forward to working closely with the tenant, Academedia, and together develop the environment for the four schools that will move in next year.”

The transaction is expected to close in Q3 2022. EQT Exeter was advised by AG Advokat (Legal), Savills (Commercial), and Tjuren Projektpartner (Technical).

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group. 

The EQT Exeter Team comprises 330 experienced professionals operating in close to 40 regional offices around the globe. Collectively, they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 600 industry advisors across the globe as well as the EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

Paris, December 1, 2021 – Ardian, a world leading private investment house, and LEDGER, a global leader in security solutions for crypto-currencies, announce today that they have signed a lease for an office building at 106 rue du Temple, Paris, in the heart of the historic Marais district.

The nearly 7,500 sqm building is a former telephone exchange built in 1927, with a facade listed in the ‘Inventaire Supplémentaire des Monuments Historiques.’ The building boasts other unique characteristics, such as an industrial and functional architectural style typical of the period. Ardian Real Estate acquired the property in July 2020, in co-investment with EDF Invest, who acts as a minority shareholder. The team plans to completely reposition the asset by converting it from high-rise to low-rise whilst enhancing its panoramic views of Paris. The project is entrusted to Franklin Azzi Architecture. The repositioning will transform the historic building to cater to new ways of working and meet the needs of its future occupants, which includes making outdoor spaces more accessible and reconfiguring workspaces.

Ardian will also ensure the property meets the highest industry standards once works are completed. Energy and technology efficiency will be prioritized through the use of various external certifications (BREEAM, HQE, Effinergie, Wiredscore).

The building is an important and vibrant asset to the neighborhood, hosting a range of events such as contemporary art exhibitions – most recently, the venue hosted an art exhibition organized by Ardian in partnership with the GALLERIA CONTINUA.

Construction works are expected to be completed at the beginning of 2023 and will be carried out by PETIT (a Vinci Construction France company).

The transaction was conducted with the assistance of AKTIS PARTNERS.

Once the redevelopment is completed, LEDGER will install its future global headquarters in the building. Since the beginning of the year, LEDGER has raised $427 million in Series C funding and hired over 250 employees. The building will cater to the modern worker, with unique spaces to collaborate and entertain, and an experience center to promote and educate people about their products and services.

“Our vision is to create a virtuous environment that brings together – in perfect balance – a safe and secure place with a biophilic design that fosters natural light and the well-being of our employees, with technology, innovation, and art, in its different forms.” RÉDA NAFAA, Global Head of Workplace

“We are proud to welcome LEDGER to 106 rue du Temple and support the future development of its business. This agreement is a testament to the quality and ambition of this project, and of the ability of our team to transform  buildings into truly unique spaces that embody the offices of the future.” STÉPHANIE BENSIMON, Head of Ardian Real Estate

“A company’s headquarters is a reflection of its vision and ambition. I am convinced that it is a key element, especially when that company is projecting itself as a key player in a thriving ecosystem. I am convinced that, even if the post-Covid world of increased hybridity has evolved certain variables (the number of desks available per day, the possibility of fully remote colleagues…), it remains fundamental for a company with our ambition to manifest the latter in the places it invests (GAFAs and the other Tech champions of the world are not mistaken). We want to attract the right talent, promote our culture and project, engender pride within teams, and provide creative and efficient places for employees to exchange. That’s why we have chosen to invest in 106 rue du Temple. There, we will develop an employee experience that will be at the cutting edge of new ways of working.” PASCAL GAUTHIER, Chairman & CEO of LEDGER

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$120bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT LEDGER

Founded in 2014 Ledger is the all-in-one digital asset management solution serving retail and institutional clients in 200 countries. Headquartered in Paris, with offices in New York, Singapore, London, Zurich, and Vierzon, Ledger has a team of over 500 professionals.
From inception, Ledger has become the de-facto standard for securing digital assets through its line-up of hardware wallet devices. Launched in 2020, the Ledger Live platform allows users to trade, swap, and lend all on one secure platform, making it one of the securest platforms for investors to begin their crypto journey. Totaling more than 3 million wallets sold around the world, its more than 1.5 million users of its platform, and its institutional clients that the company services through Ledger Enterprise Solutions (LES), the company is currently securing approximately 15% of digital assets around the world.
It aims at keeping its lead on a fastly evolving market by investing heavily in its technology, but also in the development of new services within its platform to offer security, freedom and simplicity of use to the greatest number of people in their entire experience of digital assets. Ledger’s ambition is to become the secure platform of reference for the entire cryptoasset ecosystem, in order to allow everyone, wherever they are, to invest, save, control, or spend their digital assets directly and, more broadly, to regain control of their critical digital data.

www.ledger.com

Press Contacts

ARDIAN

HEADLAND Viktor Tsvetanov

ardian@headlandconsultancy.com

+44 7818 594991

LEDGER

Benoît Pellevoizin

benoit.pellevoizin@ledger.fr

+33 6 72 44 07 17

VISTA, Calif.–(BUSINESS WIRE)– KKR, a leading global investment firm, and San Diego-based Westcore, a leading industrial real estate acquisition, development and asset management firm, today announced that Westcore has sold an approximately 197,000-square-foot industrial warehouse (“Vista Commerce”) located in Vista, California to KKR.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005990/en/

Westcore sold an approximately 185,000-square-foot industrial warehouse in Vista, California to KKR. (Photo credit: CBRE)

Vista Commerce is located on an all-concrete site and features 14 dock-high doors, six grade-level doors, 27-foot clear height and ample power. The property is 100% leased to a publicly listed healthcare diagnostic testing company.

“We are pleased grow our industrial real estate footprint in Southern California with the purchase of this well-located and fully leased industrial distribution property,” said Ben Brudney, a Director in the real estate group at KKR who oversees the firm’s industrial investments in the United States.

“The interior upgrades to the office area and warehouse space we made provided a highly functional space that attracted a leading healthcare company,” said Westcore Managing Director Hack Adams. “With a high-quality tenant in place and a strategic location in close proximity to high-demand life sciences submarkets, KKR has acquired a valuable asset.”

CBRE represented Westcore in the sale. Westcore acquired Vista Commerce in early 2020 with assistance from CBRE, who also helped secure the lease to the current tenant.

KKR acquired Vista Commerce through its KKR Real Estate Partners Americas III fund.

About Westcore

Westcore is a fully integrated commercial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding in 2000, Westcore and its affiliates have acquired and managed more than $6 billion in industrial and office assets, comprised of more than 1200 buildings and totaling over 50 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles; Oakland; and Sacramento, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211130005990/en/

Media:
For Westcore
Jennifer Whitelaw
TW2 Marketing
jwhitelaw@tw2marketing.com, 619-733-5944

For KKR
Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

Activa Capital announces an investment in the digital network of real estate agents BSK Immobilier. On the occasion of this transaction, Activa Capital takes a minority stake alongside Lionel Pelletier, majority shareholder and President of BSK Immobilier.

Founded in 2010 in Toulouse (Southern France) with the ambition to offer an alternative model of real estate intermediation, BSK Immobilier is a digital platform offering a complete range of services and tools with high added value for real estate agents. Since its creation, the company has recorded remarkable organic growth to become one of the key players in the digital real estate networks in France, with over 1,400 active agents and a volume of 4,000 transactions per year. BSK Immobilier generated approximately €30 million in revenues for the fiscal year ending September 2021.

Driven by a fast-growing market segment and a differentiating value proposition, BSK Immobilier intends to continue its double-digit organic growth and reach more than €100m in revenues in the medium term.
While preserving the family DNA of the company, this operation will allow BSK Immobilier to continue its ambitious development, notably through the structuring of the head office teams, the reinforcement of the training program for agents, the development of network animation actions, the continuation of digital investments and the deployment of differentiating technological tools. The group thus wishes to consolidate its leadership on the French market and gradually roll out its offer internationally.

Activa Capital, which specializes in supporting SMEs in primary transactions, will bring to BSK Immobilier its know-how in structuring fast-growing digital companies. With this investment, Activa Capital announces the 3rd investment of its latest vehicle, Activa Capital Fund IV.
Lionel Pelletier, President of BSK Immobilier, said: “We are delighted to welcome Activa Capital, which fully shares our strategic vision. This partnership will enable us to continue our investments, particularly in digital technology and the development of differentiating technological tools for our agents. I would like to take this opportunity to thank all of our real estate agents who have placed their trust in us and who contribute to the success of BSK Immobilier through their professionalism and commitment.”

Alexandre Masson and Christophe Parier, Managing Partners at Activa Capital, added: “BSK Immobilier is a leading player in its market and has a very significant development potential. This is a unique investment opportunity that lies at the heart of our expertise: supporting primary operations alongside talented entrepreneurs. We are very proud to have the opportunity to participate in this new phase of BSK Immobilier’s growth alongside Lionel Pelletier, its founder, with whom we share the same entrepreneurial DNA.”
The transaction is expected to be completed in the first quarter of 2022.

* * *
Deal participants
BSK Immobilier: Lionel Pelletier
Activa Capital: Alexandre Masson, Christophe Parier, David Quatrepoint, Elliot Thiéblin, Julie Perouzel

Vendors
M&A Advisor – Natixis Partners (Thomas Laroque, Alexandre Amirault, Elvire Sidos)
Financial Advisor – Natixis Partners (Virginie Gasnier)
Financial Due Diligence Advisor – Next! Financial Advisors (Hervé Krissi, Laura Guérin, Baptiste Doche)
Corporate Lawyer – Volt Associés (Emmanuel Vergnaud, Clément Carol)
Legal & Tax Advisor – Volt Associés (Stéphane Letranchant, Gontran Souweine)

Buyers
Financial Due Diligence: Oderis (Thomas Claverie, Norian Lebrot, Andoni Balaguer)
Strategic Due Diligence: CMI Stratégies (Nicolas Kandel, Simon Bolboc, Nicola Virgata)
Social, Fiscal & Legal Due Diligence: EY Société d’Avocats (Jean-Philippe Barbé, Jean-Christophe Sabourin, Anne-Elisabeth Combes)
Corporate Lawyer: Hogan Lovells (Stéphane Huten, Ali Chegra, Florian Tranchecoste)

About BSK Immobilier
BSK Immobilier is one of the leading real estate agent networks in France. Created in 2011 by Lionel Pelletier, this digital platform offers its agents a complete range of services and tools with high added value. In strong growth, the network counts in 2021 more than 1,400 active agents and a turnover of about €30m.
> More information https://bskimmobilier.com/

About Activa Capital
Activa Capital is a French independent private equity firm, owned by its partners, characterized by a proactive build-up strategy. It currently manages more than €300 million on behalf of institutional investors by investing in French SMEs and ETIs with high growth potential and an enterprise value of between €20 and €100 million. Activa Capital assists them to accelerate their development and international presence.
> To find out more about Activa Capital, visit activacapital.com

Press contacts
Alexandre Masson Christophe Parier Christelle Piatto
Managing Partner Managing Partner Communications Manager
+33 1 43 12 50 12 +33 1 43 12 50 12 +33 1 43 12 50 12
alexandre.masson@activacapital.com christophe.parier@activacapital.com christelle.piatto@activacapital.com

One of the largest US industrial real estate transactions ever, the portfolio consists of 328 high-quality, modern supply chain and e-commerce facilities totaling 70.5 million square feet, assembled through more than 100 transactions over three years

EQT Exeter raised occupancy in the constructed and standing assets from 55 percent initially to 95 percent at sale and increased the average unleveraged yield on cost from 4.8 percent initially to 6.9 percent

EQT Exeter, with its unique operating capabilities in the industry, will continue to lease, property manage, and asset manage the portfolio

EQT Exeter is pleased to announce it has closed a USD 6.8 billion, 70.5 million square foot portfolio sale on behalf of its private real estate funds, EQT Exeter Industrial Value Fund IV and related investment vehicles. The portfolio is comprised primarily of logistics properties that serve the supply chains of major corporations, including facilities for “big box” regional distribution, e-commerce fulfilment, and last mile distribution. The portfolio spans the Top 5 US distribution hubs of New York, Dallas, Atlanta, Chicago, and Los Angeles and the key e-commerce and air cargo hubs of Memphis, Indianapolis, Columbus, and Louisville.

With 20 offices across the US alone, EQT Exeter mobilized its deep local market knowledge and expansive industry relationships to assemble the portfolio through more than 100 transactions executed over three years. These investments were made on behalf of industrial value fund investors who sought value growth through development and leasing activities. Differentiated by its fully in-house execution of property design, development, and leasing, EQT Exeter: developed 15 million square feet of the portfolio, with an additional 7 million square feet under construction; leased 45 million square feet of vacancy; and signed 28 million square feet in renewals during the funds’ period of ownership. This vertical integration allowed EQT Exeter to add significant value, raising occupancy from 55 percent initially to 95 percent at sale, thus increasing the unleveraged yield on cost from 4.8 percent initially to 6.9 percent at sale.

In line with EQT Exeter’s commitment to sustainability, the 22 million square feet of newly constructed properties are equipped with the newest renewable design features in the industry. As part of the reletting of existing space, EQT Exeter has taken a number of steps to reduce environmental impact, including installing LED lighting, reflective roof materials, and clerestory natural light features, and introducing pervious parking and trailer areas and onsite stormwater retention.

The portfolio was marketed for sale to global institutional buyers who have grown accustomed to EQT Exeter providing the marketplace with the most modern, sustainable, diversified, and high-quality portfolios that provide stable cash flow from a strong credit tenant base. The buyer is a newly formed global partnership, which has engaged EQT Exeter to continue operating and managing the properties.

Ward Fitzgerald, Partner and Head EQT Exeter, said, “We are grateful to have the opportunity to deliver this transformational deal for our investors in the US industrial value funds, which have the #1 performance among all private real estate funds invested during the same time periods. We are humbled to serve the teachers, firefighters, public workers, and so many others whose retirements depend on EQT Exeter’s commitment to success. I am extremely proud of the entire US EQT Exeter team for their tireless, gritty efforts in acquiring, developing, leasing, and stabilizing this high-quality portfolio, enabling us to continue our track record as one of the highest-performing real estate investment managers in the world.”

Fitzgerald continued, “Furthermore, we are excited to continue collaborating with the buyers, our partners in a new venture as we operate the assets moving forward. Today’s transaction is the fourth multi-billion-dollar portfolio sale for EQT Exeter. Throughout our team’s long history, we have been laying the bricks of design excellence, leasing execution, and strong corporate tenant relationships to serve such partners with large-scale portfolios of the highest quality and the active management expertise to produce steady income and asset appreciation.”

Fried, Frank, Harris, Shriver & Jacobson LLP advised EQT Exeter, and Eastdil Secured LLC served as the procuring broker in this transaction.

Contact
US media inquiries: Mathilde Milch, Director, Communications, EQT mathilde.milch@eqtpartners.com, +1 (917) 510-6626
International: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group.

The EQT Exeter Team comprises 280 experienced professionals operating in close to 40 regional offices around the globe. Collectively they have consummated over 700 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 600 industry advisors across the globe as well as the EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram