Skip Ribbon Commands
Skip to main content

News release


Swedish Pension Fund Completes Massive Global Portfolio Sale

JLL arranges $2.1B sale and $1.06B financing of Alecta Portfolio

NEW YORK and LONDON, Feb. 20, 2017 – Despite an uncertain global economic environment, investors and lenders remain drawn to the commercial real estate safe havens of the United States and United Kingdom. On behalf of Alecta, a Swedish occupational pension fund manager with approximately $85 billion under management, JLL's Global Capital Markets experts today announced the firm completed the sale of a global portfolio comprised 47 of office, retail, multifamily and industrial assets across the U.S. and U.K. Blackstone purchased the portfolio's 21 U.S. assets for $1.7 billion, and a global investment bank purchased all 26 assets in the U.K. for approximately $375 million.

JLL also secured acquisition financing on behalf of Blackstone. The Royal Bank of Canada provided a $799 million loan for the purchase of the U.S. office, retail and industrial assets. A government-sponsored enterprise provided a $93 million loan for the multifamily assets.

The portfolio includes locations in key gateway markets such as London, San Francisco, Washington, D.C. and Chicago and features a diverse range of high-profile tenants. The U.S. portfolio totals approximately 3 million square feet, and the UK portfolio totals 1.5 million square feet.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm's U.S. media center Web page:

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit​