Two active portfolios of commercial and industrial assets. Different starting positions. The same method and the same operating platform.
HNordic is building two portfolios of commercial and industrial assets in Sweden. Both are active. Both are being developed through the same six-step method and operated on the same platform. The difference between them is the starting position — and the starting position determines what the investor is buying.
Portfolio SE10 begins with assets priced at their current, unimproved configuration. The investment case is built on what the method adds: energy infrastructure, income, and the capital value that follows from it. The eleven assets were selected because they carry the right upgrade pathway — no grid reinforcement, clear title, motivated seller — and because the gap between current performance and upgraded performance is wide enough to justify the programme.
Portfolio SE13 begins with assets that are already performing. Both properties are fully occupied, generating contractual rental income from day one. The energy infrastructure — battery storage, solar, EV charging, and cylindrical wind turbine generation — layers additional revenue on top of an income base that already runs. The combined return reflects both streams. The property yield alone is a credible return on a fully-leased Swedish commercial portfolio. The energy infrastructure is what separates the two.
These are not variations of the same investment. They are different propositions for different mandates.
Both portfolios run on the same operational infrastructure. The same six-step method is applied to every asset. The same AI energy management system coordinates battery dispatch, balancing market participation and on-site generation across every site. The same team manages acquisition, installation, and long-term operation.
The consistency of method is what makes the portfolio approach scalable. What is learned from one asset improves the next. The operational track record from Portfolio SE10 is the platform on which Portfolio SE13 runs.
Eleven commercial and industrial assets. Due diligence complete on every property. Acquired below their upgraded potential and developed toward it through integrated energy infrastructure. No grid reinforcement required across any of the eleven sites — the most significant execution risk in European energy infrastructure has been removed from the programme by design. Income from battery storage, solar generation, EV charging and cylindrical wind turbine generation is added to each asset through the upgrade. The capital value follows from the income.
Two fully-occupied Swedish commercial properties. Rental income contractual from day one, before a single energy system is commissioned. The investment argument is addition, not transformation — energy infrastructure layered on top of an income base that already runs. The two return streams are genuinely independent: rental income continues if energy underperforms in a given period; energy revenue continues if a tenant exits. The combined return of 30.9% per annum reflects both.
Next step
If you are new to HNordic, a direct conversation with Rune or Thomas is the right starting point. Property Schedules and the Private Placement Memorandum follow from that.
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