NREP has bought a €161m commercial centre in Sweden from a municipal housing company owned by the City of Stockholm.
The €17bn Nordic real estate investor said it has acquired Vällingby Centrum in Stockholm from Svenska Bostäder.
Vällingby Centrum comprises 76,206sqm of space divided into six properties offering multiple uses including local necessity-driven retail, offices and a range of community services.
Rickard Svensson-Dahlberg, co-founder and partner at NREP, said: “It’s a great privilege to be entrusted with the responsibility for steering this landmark centre into its next phase of sustainable operation, and is testament to NREP’s track record as a trusted partner of choice for public organisations.
“Having long drawn inspiration from the 15-minute city model, as reflected in numerous district development projects successfully executed by NREP, Vällingby Centrum provides an exciting opportunity to enhance the potential of a vibrant community hub with social sustainability at its core.”
Dennis Wedin, deputy mayor for housing and real estate at the City of Stockholm, said: “From the outset, it was important for us to find a professional and responsible partner that had the ability and vision to utilise the opportunities on offer at this unique asset to the greatest extent.
“This transaction will importantly ensure that the city can focus on increased housing delivery for Stockholm.”
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