Sweden’s KPA Pension has bought an 18,000sqm office property in central Stockholm from AMF Fastigheter, the real estate arm of the blue-collar pension fund AMF, for SEK3bn (€264m).

KPA Pension, the SEK314bn municipal pension fund subsidiary of the Folksam pensions and insurance group, said the property, Mentorn 1, is located close to the Swedish capital city’s central train station and has modern and flexible premises.

Jonas Bjuggren, Folksam group’s real estate director, said: “At Folksam Group, we’re continuing the long-term, strategic expansion of our property portfolio through an acquisition in the middle of central Stockholm.”

Mentorn 1 is located near the property Blekholmen 4 – also called Kungsbrohuset or Schibstedhuset – which Folksam already owns, he said.

“We see big synergy effects for our management, as well as stronger opportunities to offer the market and our customers attractive premises in the best possible location for communications,” Bjuggren said. 

Mentorn 1 office property in central Stockholm

Source: KPA Pension

Mentorn 1 office property in central Stockholm

He said the Folksam group is still firmly focused in its real estate strategy on modern, high-quality office properties in attractive locations, and that when the right opportunity presented itself, the property portfolio would be expanded again.

Folksam said the newly-acquired building – which it would take over on 1 September this year – would be integrated into the group’s work to ensure high sustainability performance to reach its climate goals.

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