Andersson Real Estate Investment Management's newly launched fund Areim Fund I has made its first two investments with the purchase of a 7,500 m[sup]2[/sup] office development in the Hammarby Sjöstad area of Stockholm and a 40,000 m[sup]2[/sup] office in Kista, Stockholm, previously owned by Klövern and SEB Trygg Liv. In a statement, Areim said that the office development is currently under construction by Skanska. The financial details of this transaction were not disclosed.
Andersson Real Estate Investment Management's newly launched fund Areim Fund I has made its first two investments with the purchase of a 7,500 m2 office development in the Hammarby Sjöstad area of Stockholm and a 40,000 m2 office in Kista, Stockholm, previously owned by Klövern and SEB Trygg Liv. In a statement, Areim said that the office development is currently under construction by Skanska. The financial details of this transaction were not disclosed.
The fund is an eight-year vehicle with an investment horizon of three years and a total investment volume of circa SEK 7 bn (EUR 745 mln). Advised by Areim, Areim Fund I counts among its investors three of the world's largest institutional capital managers - Dutch pension fund ABP, the Danish supplementary pension Fund ATP and the Government of Singapore Investment Corporation GIC, with commitments worth a total of SEK 2.1 bn (EUR 224 mln).
'The fund's investments will be primarily focused on office space in major Swedish cities. Our main strength lies in repositioning and developing office properties; finding new tenants; and negotiating both new and existing contracts. Against this background, these first two investments are perfectly suited to our strategy,' said Leif Andersson, CEO of Areim.
'The new office building in Hammarby Sjöstad will contain attractive offices in an expansive area with good communications. The property in Kista is well-located and we look forward to an exciting development for this investment', he added.
