Union Investment Acquires Kållered Retail Park From Ingka Centres for €80 Million

July 2, 2026 — Union Investment Real Estate Real Estate has acquired the Kållered Retail Park in Gothenburg, Sweden from Ingka Centres, part of the Ingka Group, for approximately €80 million. The transaction adds the approximately 19,400-square-meter retail park to UniImmo: Deutschland, Union Investment's largest open-ended real estate fund, which carries a current volume of around €15 billion.

The deal represents the first acquisition for UniImmo: Deutschland in approximately three years, during which Union Investment said it had prioritized liquidity generation over new purchases. The firm noted it has already been active as a buyer in its special funds since the end of 2025, suggesting the Kållered transaction is part of a broader resumption of acquisition activity rather than a standalone move.

Property and Transaction Details

The Kållered Retail Park spans approximately 19,400 square meters and is positioned as a convenience-oriented destination. Ingka Centres, which also encompasses IKEA Retail and Ingka Investments under the wider Ingka Group umbrella, was the seller.

JLL brokered the transaction. Union Investment was advised legally by Gernandt & Danielsson, on tax and financial matters by KPMG, on environmental matters by HPC, and technically by Drees & Sommer. Panreal, based in Gothenburg, served as the buyer's commercial advisor. The seller was advised legally by Mannheimer Swartling and on tax matters by EY.

The cap rate, financing terms, and occupancy rate were not disclosed beyond the approximately €80 million headline figure.

Ingka Centres on the Deal

Karoline Nader-Gräff, acting Global Expansion & Development Director at Ingka Centres, commented on the transaction: "This transaction demonstrates the strong appeal of high-quality, purpose-built retail destinations that meet the evolving needs of both retailers and customers. With its exceptional convenience focused tenant lineup and strong fundamentals complementing the existing neighbouring retail, the Shopping Park in Kållered represents an attractive long-term investment. We are delighted to have partnered with Union Investment as they re-enter the Swedish retail market, and we are confident the property will continue to thrive under its new ownership."

Union Investment's Return to Retail Acquisitions

The acquisition marks Union Investment Real Estate's re-entry into the Swedish retail market and signals a shift in strategy for its open-ended retail funds aimed at private investors. After roughly three years of restraint focused on preserving liquidity, the firm is now returning to the buyer side for these vehicles. Union Investment had already resumed acquisitions for its special funds at the end of 2025.

The Kållered asset fits a core investment strategy, with Union Investment describing it as a reliable income generator for UniImmo: Deutschland. The fund's approximately €15 billion in assets makes it Union Investment's largest real estate vehicle.

About the Parties

Union Investment Real Estate is a real estate investment manager operating a range of open-ended funds and special funds. UniImmo: Deutschland, with approximately €15 billion in assets, is its flagship vehicle for private investors. Ingka Centres is the retail property arm of Ingka Group, the parent organization that also includes IKEA Retail and Ingka Investments.

Sources: Union Investment Real Estate — Press Release, July 2, 2026