Alecta, Sweden’s largest occupational pensions provider, has bought the Bredden business and retail park in northern Stockholm from previous owner Profi Fastigheter, which will continue to manage the property on behalf of the pension fund.
The property, which is situated between Stockholm and Arlanda airport, comprises 190,00sqm of office, retail, hotel, storage and service space, and another 195,000sqm of development area with existing building rights, according to Pangea Property Partners, which served as strategic and financial adviser to the transaction.
A spokesman for Alecta confirmed the deal which took place in July, and under which the pension fund became a 100% owner of the property, formerly called InfraCity.
However, he said the pension fund was not disclosing the purchase amount.
Profi Fastigheter originally bought the property for SEK1.8bn (€167.4m) from the Orion European 2 fund back in March 2013, and has since worked actively on the asset, according to Swedish news service Fastighetsnytt.