Vendus currently owns a portfolio of 73 properties with an underlying asset value of approximately SEK 3.5 billion. The company’s rental income is primarily generated by leading grocery retailers, providing stable and predictable cash flows.

Since Nordika’s initial investment at the end of 2024, Vendus has undergone a significant transformation into a more institutionalized and operationally efficient real estate company with strengthened corporate governance. During the period, the company has acquired high-quality grocery assets with a total value of nearly SEK 1.5 billion and successfully refinanced all outstanding preference shares with senior debt financing, while simultaneously reducing senior debt margins significantly.

The new capital will enable Vendus to capitalize on attractive acquisition opportunities and further optimize its capital structure to support continued expansion. The company’s ambition is to increase its property value to at least SEK 6-8 billion within the next three years.

In addition to the directed issue of warrants to Nordika, Vendus also raised SEK 132 million through a rights issue subscribed by existing investors. Nordika owns 53 percent of Vendus post share issuance.

Roschier, PWC, and Newsec acted as advisors to Nordika in connection with the transaction.