Swedish property group Balder has acquired the Scandic Opalen hotel in the centre of Gothenburg from a consortium of private investors.

Swedish property group Balder has acquired the Scandic Opalen hotel in the centre of Gothenburg from a consortium of private investors.

The investment volume comes to SEK 550 mln (€62 mln).

The hotel comprises 353 rooms across 18,500 m2 of space. The asset is fully let to hotel operator Scandic on a long-term contract.

'Scandic Opalen is a landmark property with a strategic location,' commented Balder's CEO Erik Selin.

Savills advised the vendors on the deal.