Sweden’s AP7 is establishing Secura Fastigheter AB, a new Nordic real estate company, through the acquisition of a SEK 5.6bn Swedish portfolio of nine social infrastructure properties.

The portfolio has been sold by Castellum and is expected to be completed in Q2 and Q3 2026. It includes approximately 110,000 square metres of lettable area, with properties located in the Gothenburg region, Örebro, Malmö and Jönköping.

The properties are fully let to public sector tenants, including the Swedish National Courts Administration, the Swedish Police Authority and the Swedish Prison and Probation Service.

The portfolio has a weighted average unexpired lease term (WAULT) of approximately 11 years at closing. The tenants operate functions that are critical to the rule of law and core public services in Sweden and are typically associated with long-term lease contracts, supporting strong income visibility and stable cash flows.

AP7 said the acquisition represents the first step in establishing Secura, a real estate company focused on social infrastructure across the Nordic region.

Its objective is to gradually build a diversified and sustainable real estate portfolio, with an initial focus on properties for the justice system and complementary segments within social infrastructure. AP7 is targeting a portfolio value of approximately SEK 25bn within five years.

“The portfolio provides a strong foundation for the establishment of our new real estate company, Secura. The assets are of high quality, demonstrate a clear sustainability profile and generate stable cash flows.

"As a responsible and committed owner, we see good potential to build a leading company focused on quality, security and long-term value creation,” AP7 head of alternative investments, Maria Björklund, said.

In 2023, AP7 received an increased mandate for investments in illiquid assets, such as real estate, private equity and infrastructure.

In addition to investments within social infrastructure, AP7 intends over time to broaden its real estate investments to include other priority segments, such as residential and office properties.

Advisers to AP7 were REIN Capital Partners, Setterwalls and Bloc Tax.

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