Pictet Alternative Advisors partners with Swedish residential developer I am Home
Pictet Alternative Advisors (PAA) has partnered with I am Home, a Swedish residential and urban developer, to develop residential units to be built in growing cities across Sweden.
PAA will act as a long-term capital partner of I am Home, helping deliver the ambition to expand the platform up to 600 apartments per annum. The partnership is currently finalising its first acquisition targets, and plans to further expand during October and November of 2021.
The strategy represents an opportunity to enter into the highly sought after for-rent Swedish residential sector. The business plan is focused on developing affordable housing through sustainable development practices, using the Swedish subsidies system to keep rents low. The team will focus on all three dimensions of the ESG spectrum, including responsible construction practices, through wooden modular development, meeting energy efficiency standards, ensuring the provision of affordable housing and creating environments that provide a sustainable future for the next generation.
Alexander Thams, Head of Nordics at Pictet Alternative Advisors, comments: “The underlying fundamentals of the Swedish residential market - the regulated rental system, a growing urban population and a structural undersupply of affordable housing - remain attractive. We have a strong focus on ESG and are excited to partner with I am Home, a high-quality developer, that share our core values of sustainable development and green buildings. Their vertically integrated modular wood construction will ensure high quality buildings and a low carbon footprint.”
Terje Björsell, CEO and Partner at I am Home, adds: “With Pictet’s long term perspective, devotion to sustainability and real estate expertise I am Home finds a strong partner. We share similar values and together form a reliable team, dedicated to exploring further sustainable residential development opportunities across Sweden.”