Alecta has closed the sale of three office buildings in San Francisco Bay area to Blackstone Real Estate Partners for $291m (€276.2m), according to sources familiar with the transaction.
Two of the properties are in Mountain View, California – 590 and 686 East Middlefield Road, sold for $57.1m and $97.3m.
The former is occupied by Omnicell, a healthcare solutions firm, while the latter is let to Siemens Healthcare.
A third asset acquired by Blackstone, the 273,000 sqft office building, is at 601 California Avenue in Palo Alto.
The sales price on this asset, let to law firm Wilson Sonsini Goodrich & Rosati, was $136.8m.
Other Alecta properties in California include office buildings in San Francisco and Cupertino, shopping centres in San Francisco and San Diego and an office/industrial property in Redondo Beach in Southern California, while assets are in the Southwest and Northeast.
The UK assets are a mixture of office, big box and high-end retail located in and around London.
Pension fund manager Alecta, Sweden’s largest occupational pension provider, took the decision to close its offices in the UK and US in April and sell a portfolio of 48 real estate assets via advisory firm JLL in the two countries.
Goldman Sachs bought a portfolio of 26 UK properties from Alecta for an undisclosed amount in October last year.