The real estate arm of Swedish pension fund Alecta is buying a shopping mall in Stockholm from Unibail-Rodamco-Westfield (URW) for SEK2.8bn (€272m).

URW said it has agreed to sell Solna Centrum to Alecta Fastigheter in a deal expected to complete at the beginning of February 2022.

URW said the total acquisition cost of SEK2.8bn “represents a premium to the last appraised value”.

Solna Centrum comprises approximately 48,400sqm of retail space and 31,000sqm of offices.

Lena Boberg, the CEO of Alecta Fastigheter, said: “We are very happy about this acquisition and we see great potential in the site’s future development. Solna Centrum is completely in line with Alecta Fastigheter’s ambition to invest in sustainable and long-term development of places and environments in attractive growth cities.”

URW said upon closing of this transaction, the group will have completed €2bn of its €4bn disposal programme of European assets.

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