Amasten in English
THIS IS AMASTEN
Amasten is a property company focusing on residential properties but also owns commercial premises and offices. The portfolio is focused on Helsingborg, Finspång and Strängnäs, as well as a number of smaller towns in Skåne and Blekinge, and in the Sundsvall region and western Mälardalen. The market value is approximately SEK 2.5 billion, with an express ambition to expand the portfolio further in the years ahead. At present, some 65% of the portfolio consists of residential properties. The company’s guiding principles are strong customer relations, expertise and commitment.
Amasten acquires, manages and develops properties in small and midsize towns with moderate to high property yields, favourable growth prospects and a stable rental market. The prioritised regions are within commuting distance of cities with universities/colleges and regional capi- tals, with Amasten’s locations forming clusters around major urban areas.
Amasten aims to manage properties in an ethical and envi- ronmentally aware manner based on the core values of hav- ing tenants who feel good and are content living in the company’s properties, thus ensuring Amasten’s commercial success. The company aims to secure a property holding with a market value of at least SEK 4 billion within a three-year period. A larger portfolio will result in an increased and more stable underlying cash flow, thus facilitating financing by borrowing and raising capital.
General aims and guiding principles
- Balancing risk by ensuring a mix of sectors and towns.
- Value-creating property management that improves cashflows and raises the value of properties.
- Dynamic and profit-driven portfolio composition.
- Generating stable annual returns over an economic cycle.
- Return on equity over a five-year period of 10-12% annually.
- Long-term loan-to-value (LTV) ratio of less than 70%.
- Long-term interest-coverage rate on bank financing exceeding 150%.
- Listing on Nasdaq’s main list in 2017.
To continue to expand the property holding based on long- term property management that improves rental potential and increases the efficiency of operating and management expenses. As a result, strong cash flows and heathy value growth will be generated over time.
Amasten will continue its expansion focusing on towns that form clusters around major university cities and regional capitals in its existing South, Central and North regions. This includes densification of the property holdings in cer- tain existing locations, while evaluating potential acquisitions in new towns in existing regions. The strategy also allows a degree of flexibility in order to capitalise on attractive business opportunities when they arise.
As of 31 December, the South Region (34%) consisted of a number of towns in Skåne and Blekinge, with the largest holding located in Helsingborg. The Central Region (44%) consists of the Mälardalen portfolio, and Finspång and Karlskoga; with the two latter towns in close proximity of the cities of Norrköping and Linköping, and Karlstad and Örebro, respectively. The North Region (22%) is the smallest region, currently com- prising holdings in Härnösand, Timrå, Falun and Sollefteå, with Sundsvall serving as the regional power- house.
Amasten’s main focus is to acquire, manage and develop properties to ensure that residential properties account for approximately two-thirds of the portfolio and commercial properties for one-third.
DAVID DAHLGREN, CEO
Employeed since 2014
Education: Economics Degree at University of Stockholm, Economics and Finance
Background: The last seven years David was Nordic CEO at Tavistock group. The property portfolio at Tavistock included at most 211 properties in Scandinavia with a property value of sek 6,5 billion and consisted of office, industrial and retail properties. Parts of the stock was listed on the London Stock Exchange. Prior to that, David worked as an Investment Manager at Aberdeen Property Investors for more than three years. He began his career in the financial industry in 1998.
MARTIN SERSÉ, CFO
Employeed since 2015
Education: Master of Business Administration at the Stockholm School of Economics, law studies at Stockholm University
Background: Most recently from his own consultancy firm and has been the CEO and CFO for the Nordic operations of CBRE Global Investors whose property investments in the Nordic region comprised a property value of approximately SEK10 billion. Martin has an extensive career in real estate and finance, and has previously also worked at SEB, Leimdörfer, Sveafastigheter and Aareal Bank.
OLOF PERGAMENT, Head of Property Management
Employeed since 2014
Education: KTH M.Sc. Construction and Real Estate
Background: Most recently AFA properties where he was the property manager for the residential portfolio. Before that he worked at ByggVesta and Aberdeen Asset Management.
PER JÖNSSON, Accountant Officer
Employeed since 2013
Education: Economist from Kristianstad University and Lund University
Background: Previously worked as en economist in the SEM SYSTEM group in Helsingborg. Before that Per was the CFO at S&H Technology AB.
Chairman since 2014
Education Master of Science in Civil Engineering
Miscellaneous Rickard possesses long experience in the construction and real estate sector. He is currently CEO of Cityhold Properties AB and Senior Advisor of MSCI-IPD. He is also Chairman and advisor in the real estate company NP3 and CEO of Grön Bostad AB.
Member of the board since 2014
Education University studies in law and economics
Miscellaneous Long experience in the construction and real estate sector including CEO of Newsec Corporate Finance. Currently Executive Chairman of property AB Centur, Alnova Balcony AB brewery. He is also a board member of NP3 AB.
Member of the board since 2016
Education Master in law from Uppsala Universitet
Miscellaneous Ulf Nilsson has over 25 years of experience from finance and the real estate industry. He is CEO at D.Carnegie and board member of Stockholms Brandkontor, Hyresbostäder i Sverige II AB and Holmiensis Bostäder AB. Previous experience includes EY and Handelsbanken.
Member of the board since 2015
Education BA University of Uppsala
Miscellaneous Part of a number of boards among which listed NP3. Other positions include governmental venture capital fund Inlandsinnovations portfolio. Previously property manager at TV4 and partner / CEO of RSD & Shopping Centre Development.
Member of the board since 2013
Education Upper secondary economics, education in teaching, Fastighetsägarna Syd
Miscellaneous Private Property Owner and Property Manager between 1995-2007. Boardmember HSB Northwest Skåne. Member of the rent tribunal 2005-2010. Boardmember Fastighetsägarna Syd 2004-2008.
MEMBER OF THE BOARD SINCE 2015
EDUCATION Secondary educadion
MISCELLANEOUS Extensive experience wtihin construction and CEO of Sterner Stenhus which is among the largest facade constructions companies in Sweden. Experience from real estate, property management, development of own properties.