Art-Invest Real Estate has expanded its Swedish residential portfolio with the acquisition of 169 apartments, bringing the entire ATLAS block in Stockholm under its ownership.
The asset manager has acquired two newly built residential properties in Barkarbystaden from Åke Sundvall on behalf of its funds.
The acquired properties, which comprise approximately 11,000sqm of residential space and around 3,500sqm of retail space, were secured for an undisclosed sum.
The latest deal, combined with the previously completed acquisition, means Art-Invest Real Estate now owns the entire ATLAS block. In total, the portfolio comprises 327 residential units, an LSS care home and a Hemköp grocery store.
The transaction, which is Art-Invest Real Estate’s third in Stockholm, represents the second agreement between Art-Invest Real Estate and Åke Sundvall, who will collaborate to further develop the commercial spaces within the property.
Johan Öhlund Lagerdahl, head of Stockholm at Art-Invest Real Estate, said: “The acquisition further strengthens Art-Invest Real Estate’s footprint in Sweden.
“This transaction makes sense in the best way as we are now managing the whole ATLAS block. The new assets are strategically located in front of the new subway station which will open late 2027.”
Martin Sundvall, CEO of Åke Sundvall, said: “Since the first transaction with Art-Invest Real Estate, we have been aware of their interest in this part of the block as well. There is a clear rationale in having a single owner, and through the agreement we are now entering into we see a long-term and ambitious property owner taking over.
“At the same time, we at Åke Sundvall will remain actively involved in the continued development of the commercial premises and their tenant mix.”
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