Independent Nordic fund manager Areim has acquired the office asset Städet 9, also known as Grönstedska Palatset, on Sankt Eriksgatan in Hagastaden, Stockholm.
Financial details were not disclosed. The vendor was Gamla Livförsäkringsaktiebolaget SEB Trygg Liv.
The property, which was built in 1923, consists of 28,000 m2 of lettable area, and was the former headquarters of Vin & Sprit. Areim plans to further develop the property and at the same time preserve the property's history and characteristic features.
Julia Mejegård, head of investments Sweden, Areim, said: 'We see huge potential in both the property and the area.
'The acquisition is fully in line with our strategy of utilising the already built environment by acquiring centrally located and attractive office properties where we can add long-term value.
'Grönstedska Palatset possesses a captivating history and a cultural significance that cannot be replicated in a newly produced property.
'However, there are elements we aim to enhance, such as elevating the property's sustainability profile and optimising the premises to meet the tenant’s current and future needs. We also look forward to contributing to the development of Hagastaden.'
The property is located in Hagastaden in Stockholm, a central growth area with good infrastructure and a wide range of services. 90% of the property's 28,000 m2 is currently leased.
Photo by Åke Gunnarsson
