Tessin sweeps past SEK three billion in brokered capital
Stockholm, Sweden- Tessin Nordic AB (publ) (NASDAQ: TESSIN B) – The leading digital platform for investments in real estate projects in the Nordics has passed an important milestone: Tessin has now brokered more than SEK three billion in loans. Since the founding in 2014, Tessin members have financed more than 280 Swedish real estate projects involving everything from residential property to business and logistics properties.
The pace of activity among members of the Tessin investment platform remains high. In total, Tessin has brokered capital in excess of SEK three billion from its members to Swedish real estate projects. Of total capital lent, approximately SEK 1.9 billion has been repaid, at an average return of around 8.42 percent.
“I am proud and delighted that property developers are increasingly turning to Tessin and trusting us to assist in the financing of their development projects. The company’s performance shows that we and the investors on our platform are meeting a huge need while grasping business opportunities in the building and real estate sector that is so vital to society”, says Heidi Wik, CEO of Tessin Nordic Holding.
Tessin’s goal is to continue growing by contributing to maintaining the pace of building in Sweden by offering the combination of interesting investment offerings and financing solutions in the real estate market. Capital invested by Tessin members has thus far enabled the construction of more than 5,000 homes, for example.
“According to the latest report from Boverket, the Swedish National Board of Housing, Building and Planning, there is still a serious housing shortage in the urban regions and the capital provided by Tessin members is a critical factor in making it possible to complete more real estate projects and for more people to move into new homes and build secure lives. It is exhilarating that we have achieved such high volumes so quickly, even as demand is rising at an accelerating rate”, says Wik. “Tessin’s role in the Swedish real estate market is not some minor phenomenon: today, we are a strategic resource in the effort to build away the housing shortfall in Sweden.”
About Tessin
Number of members: 56,000+
Number of capital raises: 280+
Capital raised: SEK 3,005,213,355
Capital repaid: SEK 1,927,764,789
Average return: 8.42 percent*
*The average return is based on the weighted annual return for all closed loans on the Tessin platform, including credit losses.
Reference: Boverket (2021). “Fortsatt underskott på bostäder i storstadsregionerna”. More information: Boverket.se
