AREIM Fund 1 purchased the Borgarfjord 3 and 5 properties from SEB Trygg Liv in late December. The properties are located on Torshamnsgatan in the Kista suburb north of Stockholm and contain a combined 25,000 square meters of office and commercial space. The tenant at Borgarfjord 5 is Sony Ericsson, which uses the property for administrative units and R&D activities. Borgarfjord 3 is let to Ericsson.
AREIM Fund 1 purchased the Borgarfjord 3 and 5 properties from SEB Trygg Liv in late December. The properties are located on Torshamnsgatan in the Kista suburb north of Stockholm and contain a combined 25,000 square meters of office and commercial space. The tenant at Borgarfjord 5 is Sony Ericsson, which uses the property for administrative units and R&D activities. Borgarfjord 3 is let to Ericsson.
'Both of the properties in this transaction are in line with our strategy to acquire properties with potential development opportunities. By repositioning and leasing up the properties, we expect to add value for our investors,' said Leif Andersson, CEO of AREIM AB.
The latest acquisitions are a continuation of the fund' s investments in Kista, where AREIM Fund 1 acquired over 40,000 m2 of office space at the end of November last year.
Three of the world' s largest institutional asset managers, ABP of the Netherlands, Danish Supplementary Pension Fund ATP and the Government of Singapore Investment Corporation (GIC), have committed a total of SEK 2.1 bn (EUR 220 mln) to AREIM Fund 1. Launched on 1 September 2007, the fund is an eight-year vehicle with an investment horizon of three years and a total investment volume of approximately SEK 7 bn. AREIM Fund 1 is advised by AREIM AB.
