Key Takeaways
- • Amaron Commercial Properties AB (publ)'s Master Fund property portfolio is valued at SEK 675 million as of 30 September 2026, according to an external valuation by Forum Fastighetsekonomi AB.
- • The valuation includes three properties acquired in Vellinge and Lund, announced on 4 August 2026, with an aggregate underlying property value of SEK 106 million.
- • Following the acquisitions, the Master Fund reports annualized net operating income of SEK 44 million (forecast) and an interest coverage ratio of 3.9x.
- • The Master Fund's acquisition capacity now stands at SEK 600-700 million, supporting continued growth in light industrial, logistics and office properties in the Swedish side of the Greater Copenhagen region.
Summary
Amaron Commercial Properties AB (publ), a Swedish alternative investment fund focused on real estate, announced that the external valuation firm Forum Fastighetsekonomi AB has valued the property portfolio of its master fund, Amaron Commercial Real Estate Fund (E) AB, at SEK 675 million as of 30 September 2026. The company is a feeder fund that invests mainly in the Master Fund. Both funds are managed by Amaron Fund Management AB.
The valuation covers the entire portfolio, including the acquisitions of three properties in Vellinge and Lund that were announced in a press release on 4 August 2026. Through its subsidiary Amaron Real Estate AB, the Master Fund acquired two fully let commercial properties and an undeveloped site with approximately 2,400 square metres of unused development rights. One commercial property and the development site are located in Vellinge Södra industriområde, while the other is in Gastelyckan, Lund. The two commercial properties have a combined lettable area of 6,774 square metres, and the development site comprises 6,005 square metres of land. The acquisitions were structured as share deals, with an aggregate underlying property value of SEK 106 million, and all three have now been completed.
Following these acquisitions, the Master Fund's key third-quarter 2026 figures include a property value of SEK 675 million, annualized net operating income of SEK 44 million (forecast), an interest coverage ratio of 3.9x, and acquisition capacity of SEK 600-700 million. The company stated that it has excellent access to capital and established bank facilities, which underpins this capacity for continued expansion in light industrial, logistics and office properties on the Swedish side of the Greater Copenhagen region.
CEO Kjell Rudsby said the external valuation confirms the quality of the property portfolio and that the Vellinge and Lund acquisitions fit the strategy of focusing on Malmö, Lund and Helsingborg. He noted that portfolio transactions in the market are currently being carried out at higher valuations, and said the company is well positioned to continue expanding the fund.
The valuation covers the entire portfolio, including the acquisitions of three properties in Vellinge and Lund that were announced in a press release on 4 August 2026. Through its subsidiary Amaron Real Estate AB, the Master Fund acquired two fully let commercial properties and an undeveloped site with approximately 2,400 square metres of unused development rights. One commercial property and the development site are located in Vellinge Södra industriområde, while the other is in Gastelyckan, Lund. The two commercial properties have a combined lettable area of 6,774 square metres, and the development site comprises 6,005 square metres of land. The acquisitions were structured as share deals, with an aggregate underlying property value of SEK 106 million, and all three have now been completed.
Following these acquisitions, the Master Fund's key third-quarter 2026 figures include a property value of SEK 675 million, annualized net operating income of SEK 44 million (forecast), an interest coverage ratio of 3.9x, and acquisition capacity of SEK 600-700 million. The company stated that it has excellent access to capital and established bank facilities, which underpins this capacity for continued expansion in light industrial, logistics and office properties on the Swedish side of the Greater Copenhagen region.
CEO Kjell Rudsby said the external valuation confirms the quality of the property portfolio and that the Vellinge and Lund acquisitions fit the strategy of focusing on Malmö, Lund and Helsingborg. He noted that portfolio transactions in the market are currently being carried out at higher valuations, and said the company is well positioned to continue expanding the fund.
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