Cibus Nordic Real Estate

What Cibus Nordic Real Estate does

Cibus Nordic Real Estate is a publicly listed real estate investment company (Nasdaq Stockholm: CIBUS, ISIN SE0010832209) domiciled in Stockholm, Sweden, that invests exclusively in properties anchored by grocery and daily-goods retailers. Founded in 2017, the company operates a portfolio of approximately 700 properties across seven countries — Sweden, Finland, Denmark, Belgium, and other Nordic/Baltic markets — leased primarily to large grocery operators including Ahold Delhaize, ICA, Axfood, Tokmanni, Netto, and Jumbo. Its core product is a single, unified grocery-anchored property portfolio rather than a diversified real estate platform.

The business model is a classic triple-net-equivalent REIT: Cibus acquires income-producing properties through direct negotiated transactions and leases them long-term to grocery operators, with 99% of rents CPI-linked, providing organic NOI growth independent of new acquisitions. Revenue consists entirely of commercial rental income from these anchor tenants. Capital is raised through public equity markets on Nasdaq Stockholm, supplemented by debt, to fund a programmatic acquisition pipeline — most recently a €41.9 million deployment across 11 properties in March 2026 generating €2.74 million of incremental annual rent. The company distributes dividends monthly (since October 2020) at an annual rate of €0.90 per share, totaling approximately €73.9 million, subject to AGM approval.

Go-to-market is two-sided and sales-led: on the supply side, Cibus acquires properties directly from institutional and private sellers across Nordic and Belgian markets; on the demand side, it negotiates long-term leases directly with enterprise grocery tenants. Investor relations are managed through a dedicated website, quarterly financial reports, press releases, and annual and extraordinary general meetings. The company employs 11-50 people, reflecting a lean asset-management structure typical of externally-managed or capital-light Nordic REITs, with property operations likely handled through property managers rather than in-house staff.

Name

Cibus Nordic Real Estate

Legal name

Cibus Nordic Real Estate

Website

https://cibusnordic.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Cibus Nordic Real Estate is a Stockholm-listed REIT that invests in approximately 700 grocery and daily-goods store properties across seven Nordic and European countries, leasing them long-term to major grocery operators including ICA, Axfood, Ahold Delhaize, Jumbo, Netto, and Tokmanni on predominantly CPI-linked terms and distributing monthly dividends to shareholders.

Ownership category

akta.pro rank

Product category

Commercial Real Estate (Grocery-Anchored REIT)

NAICS

Lessors of Real Estate (5311)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Commercial Real Estate Asset Management (BPAJAMAB)

akta.pro secondary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

Keywords

• Commercial real estate investing
• Grocery-anchored properties
• Nordic real estate
• Retail property leasing
• REIT dividend yield

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Others

Revenue model

1. Commercial Property Rental Income: Cibus generates revenue through long-term lease agreements with grocery and daily-goods store operators. Rents are predominantly CPI-linked (99%), providing organic growth in net operating income. The company recently acquired 11 fully let properties generating €2.74 million in annual rental income for €41.9 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Cibus Nordic Real Estate is a listed real estate investment company that acquires and manages income-producing commercial properties anchored by grocery and daily-goods store operators across Nordic and selected European markets. The company generates recurring rental income through long-term, predominantly CPI-linked lease agreements with national and regional grocery chains, distributing monthly dividends to shareholders.

Product overview

Cibus Nordic Real Estate is a single unified property investment offering rather than a platform-plus-modules architecture. The company's core product is its grocery and daily-goods property portfolio, consisting of approximately 700 properties across Sweden, Finland, Denmark, Belgium, and other Nordic/Baltic countries. The portfolio generates rental income from anchor tenants including major grocery chains, with 99% of rents CPI-linked for growth. Since October 2020, the company has distributed dividends monthly to shareholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Grocery and Daily-Goods Property Portfolio

Quantifiable outcome

• 99% of rents are CPI-linked, supporting NOI growth without acquisitions
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Ahold DelhaizecoreOthers · 13 March 2026Major international grocery retailer serving as anchor tenant in multiple Cibus properties across Sweden, Finland, Denmark, and Belgium. Long-term lease agreements provide stable rental income stream.
• JumbocoreOthers · 13 March 2026Grocery retailer operating as anchor tenant in Cibus property portfolio. Contributes to stable rental income generation.
• NettocoreOthers · 13 March 2026Discount grocery chain operating in Danish market as anchor tenant. Part of Cibus portfolio expansion in Denmark.
• TokmannicoreOthers · 13 March 2026Finnish discount retailer operating as anchor tenant in Cibus Finnish properties. Long-term lease provides rental income stability.
• ICAcoreOthers · 13 March 2026Leading Swedish grocery retailer as anchor tenant in Cibus Swedish property portfolio. Major grocery operator with significant presence.
• AxfoodcoreOthers · 13 March 2026Swedish grocery retail group operating as anchor tenant in Cibus Swedish properties. Provides stable, long-term rental income.

Scale indicators8 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Castellum AB: Sweden's largest listed commercial real estate company with diversified office, logistics, and retail exposure. Comparable as a large-cap Nordic listed property company but not specialized in grocery real estate.
• Hufvudstaden AB: Swedish premium listed real estate company focused on prime retail and office locations in Stockholm and Gothenburg. Comparable as a high-quality Nordic listed landlord but operates in a very different retail/office sub-segment.
• Klépierre S.A. Pan-European listed retail REIT with a dominant shopping-centre portfolio. Overlaps with Cibus on grocery-anchored retail real estate but operates at much greater scale and with broader tenant mix.
• Atrium Ljungberg AB: Swedish listed commercial property company with retail and urban-development assets. Comparable to Cibus as a Nordic listed property landlord but with a broader retail/urban-mix portfolio.
• Unibail-Rodamco-Westfield SE: European flagship retail/mall REIT. Comparable as a listed European retail landlord, though its portfolio skews to higher-end shopping destinations rather than Cibus' grocery/daily-goods focus.
• Kungsleden AB: Swedish listed property company focused on commercial real estate across Sweden. Comparable on listed Nordic property status and acquisition-driven growth model, but without Cibus' grocery specialization.

Direct peers

• Wereldhave N.V. Dutch-listed REIT focused on full-service daily-goods shopping centres across the Netherlands, Belgium, and France. Closely comparable to Cibus in its emphasis on grocery/daily-goods anchor tenants and resilient, non-cyclical retail real estate.
• Vastned Retail N.V. Dutch/European listed retail REIT focused on high-street and daily-goods retail property. Comparable to Cibus in its public REIT structure and exposure to grocery/daily-goods real estate cash flows.
• Eurocommercial Properties N.V. Listed retail REIT operating grocery-anchored shopping centres in Italy, France, and Spain. Directly comparable to Cibus on tenant profile (food retail anchors), long-lease structure, and listed REIT business model.

Emerging players

• NP3 Fastigheter AB: Swedish listed property company focused on commercial real estate in northern Sweden. Comparable as a smaller-cap Nordic listed REIT pursuing acquisition-led growth, though without Cibus' grocery-anchored specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cibusnordic

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cibus Nordic Real Estate