German insurer Allianz has sold an office building in the central business district of Stockholm to AMF Fastigheter, the real estate arm of Swedish pension fund AMF.
German insurer Allianz has sold an office building in the central business district of Stockholm to AMF Fastigheter, the real estate arm of Swedish pension fund AMF.
The sale price was not disclosed but Allianz Real Estate said the property, Jericho 34, has a value of about SEK 1.6 bn (€180 mln).
The building has a rentable area of more than 21,000 m2 and also comprises retail and residential units. The main tenant is accountancy firm EY.
Allianz acquired the property from Swedish property company Diligentia in 2005.
Jones Lang LaSalle advised Allianz on this transaction. The building drew strong interest from both domestic and international investors, said Daniel Gorosch, managing director of Jones Lang LaSalle in Sweden. 'It is exactly this type of real estate that many institutional investors are interested in - properties with high standard, stable tenants as well as an attractive location in downtown Stockholm,' he noted.
