Swedish real estate company AMF Fastigheter has sold a modern office property in central Stockholm to KPA Pension, part of the Folksam Group, for SEK 3 bn (€270 mln).
Mentorn 1 is situated near Stockholm Central Station (addresses Kungsbron 2-20 and Östra Järnvägsgatan 21-31). Built in 2009, the property has been under AMF Fastigheter's ownership since 2015.
Mentorn 1 offers approximately 18,000 m2 of leasable space, with roughly 90% dedicated to bright and efficient office environments. The remaining space comprises retail areas and restaurants. Google, Adyen, and MSCI are among the property's prominent tenants, while the ground floor features popular eateries like Hawaii Poké and Tokyo Ramen.
Mentorn 1 boasts a Breeam In Use certification and an energy class B rating.
Fredrik Ronvall, head of property investments at AMF Fastigheter, said: ‘The property market has been waiting for a period with low transaction volumes as a result. This transaction is confirmation that today there is a good demand for modern office properties in attractive locations in Stockholm's inner city. We want to long-term and sustainably develop new urban spaces with a focus on future workplaces and attractive ground floors.’
KPA Pension takes possession of the property on 2 September 2024.
AMF Fastigheter, a wholly owned subsidiary of the pension company AMF, manages a property portfolio with a market value of approximately SEK 78 bn (€6.9 bn).
