Capman and Tristan buy Pfizer's Swedish HQ

Fund managers Capman Real Estate and Tristan Capital Partners have jointly acquired the Swedish headquarters of pharmaceuticals company Pfizer in a sale-and-leaseback transaction. The investment volume for the Malten 1 property located in Sollentuna in the greater Stockholm area comes to SEK 166 mln (EUR 19 mln).

The 16,000 m² office building was built in 2005 for Pfizer by Skanska and is positioned alongside the E4 motorway between Stockholm’s central business district and Arlanda Airport. Carmaker BMW is also a tenant in the building and there is a further 3,000 m² of office space available for leasing.

'This acquisition represents an opportunity for our Curzon Capital Partners III core plus fund to acquire a high quality property with vacancy and to take advantage of a strong economy and leasing market where an active asset management strategy can add value through the presence on the ground of our local partner Capman,' said Cameron Spry, head of investments at Tristan Capital Partners.

The acquisition is Capman's first in Sweden since the Helsinki-based company began operating in Stockholm a year ago. Capman will manage the property on behalf of the joint venture with Curzon Capital Partners.