2019 was another year of expansion for Croisette Real Estate Partner.
A new office opened in Halmstad and the Human Capital business area was launched, while at the same time transaction operations were extended to include “small cap”, a service for handling smaller transactions and professionalizing part of the market that was lacking qualitative advice.
Croisette opened a regional office at Köpmansgatan 41 in the heart of Halmstad at the start of the year after the company had supplied services in Halmstad on a number of occasions and identified the need for a professional advisor there. The company’s latest business areas, Human Capital and Small Cap, were also created after the need for them arose.
In-house financial department?
Nesco co-working was launched in 2019.
Croisette took part in the MIPIM real estate trade fair in Cannes and Almedalen Week in Visby – both new events for Croisette for 2019. Croisette will be taking part in both MIPIM and Almedalen Week this year as well, following its successful and rewarding participation last year.
All offices and business areas have grown and are becoming stronger year on year.
Leasing operations have grown as always throughout the year, in terms of both turnover and number of employees. The level of occupancy has increased significantly overall for all offices, and these positive results are expected to continue in 2020. The offices in Gothenburg and Halmstad opened during the year and have already made a significant impression on the market.
“The Malmö office has been a significant player on the Skåne market for a long time now, and this situation is continuing. The pink colour is now becoming more prevalent in a number of municipalities in Halland as well. Once again, 2019 has been a successful year for Malmö and the office has made major inroads on the logistics side of things. Being able to offer our clients professional advice, including storage and logistics players, is absolutely brilliant. We are involved in a number of really interesting discussions that we are expecting to make public in the first half of 2020,” says Peter Bergquist, Head of Leasing.
“Croisette’s Stockholm office has continued to focus on Mälardalen regions, with cities such as Örebro, Västerås and Enköping. We are continuing to see high demand there in light industrial and logistics segments, but demand also remains high among trade players wishing to establish themselves in larger ‘big box’ solutions. We will be focusing throughout the year on expanding our operations in central Stockholm and gaining even more ground inside the congestion zone,” says Emil Lötbom, Head of Leasing Stockholm.
“Croisette Leasing Göteborg AB has now been active in Gothenburg for about a year and leased a number of major properties. Our initial focus this year has been to bring in a number of clients in order to build up a good base of major listed real estate companies and smaller local ones. We have focused throughout the year on building up long-term business relationships that will bear fruit in the future,” says Mimoza Zeneli, Head of Leasing Gothenburg at Croisette Real Estate Partner.
“We are very much looking forward to next year and are expecting to go on being the most expansive and innovative real estate advisor on the market,” says Peter Bergquist, Head of Leasing at Croisette Real Estate Partner.
2019 has been by far the strongest year to date for Croisette as a whole, including its transaction operations. The transactions team completed transactions worth around SEK 2.5 billion in 2019, which represents an increase of 39 per cent on 2018 in terms of volume. Nineteen transactions were completed during the year, around 20 per cent of which involved purchase assignments.
“One clear trend that we are seeing is an increase in the number of strategic partnerships on the purchase side of things. Repeat business is a natural step once we have familiarised ourselves with our client’s ‘business’, and of course we are really pleased about that. When our clients reach their targets, we do too,” says Fredrik Dackheden, Head of Transactions at Croisette Real Estate Partner.
Croisette has completed transactions in all real estate segments during the year, the majority of which have primarily involved light industrial and residential lettings. The team has been reinforced organically with some talented new staff as the demand for Croisette’s services has increased, and the emphasis on expanding our service offering has really started to pay off.
“Essentially, I can confirm that the future looks bright for us, not least considering our exciting assignment pipe with new business that will be emerging onto the market in spring. We have residential portfolios (existing and new) and light industrial real estate in Stockholm and the Öresund region that will be launched shortly. I am looking forward to another strong year of transactions in 2020,” says Fredrik Dackheden.
VALUATION & ANALYSIS
2019 has been an exciting year for our Valuation & Analysis business area, as the team has continued to be entrusted with valuation assignments by both new and existing clients. The percentage of socially beneficial real estate in valuation assignments has increased during the year, as has the valuation of new residential properties. This is probably no coincidence but is an accurate reflection of the general market situation. Our partnerships with a number of banks – both major banks and niche banks – has been extended still further throughout the year, and our objective has been to increase market awareness and understanding among recipients of real estate valuations.
Our valuation operations have been expanded throughout the year and now offer clients more strategic advice. An initial stage in this is to work together with clients to scrutinise all or parts of their real estate holdings in order to identify opportunities for development and savings. These assignments throughout the year have resulted in multi-million krona savings for individual clients. We have also appointed Christopher Thodenius as a business developer during the year so we can develop our service offering still further. His experience and genuine interest in sales and business development mean that he will be supporting the valuation team with further development of these areas.
Croisette’s fourth business area by the name of Human Capital was launched in 2019. This business offers advice, recruitment and hiring of consultants in the real estate sector. The year was characterised by meetings in all their forms – meetings with clients, interviews and a record number of unconditional cups of coffee! And all with a view to reaching out to the market and establishing contact.
Croisette Human Capital is tasked with working in partnership with a number of successful new recruits, including Håkan Klinterhäll, the new Head of Agency Leasing at Cushman & Wakefields, and Tobias Lövstedt, Head of Finance at the new real estate development company Proveloper AB. The year ended in the best way possible with a little in-house recruitment, when Madlene Pettersson – who came to us from Datscha – chose to join our team.
“We are embarking upon 2020 with both the desire and the capacity to take on even more recruitment and interim assignments,” says Erika Klingberg, Head of Human Capital at Croisette Real Estate Partner.