CBRE Global Investors has purchased an office property in Stockholm from Aberdeen Asset Management for an undisclosed sum.
Purchased on behalf of its clients, Tobaksmonopolet 2, on the inner-city island of Södermalm, is a 17,500 m2 property let to tenants including H&M, Weekday, Swedish Match and NEPA.
'The Nordic region is a key market for our business and our local team were successful in acquiring quality assets on behalf of our funds during 2016. We have a significant amount of capital to invest in the region this year,' commented John Mulqueen, head of transactions EMEA at CBRE Global Investors.
The building was constructed between 1917 and 1922 to serve as the head office for the Swedish Tobacco Monopoly (today known as Swedish Match).
'This asset will provide our investors with exposure to a unique property in a strong and stable office market in Stockholm. Södermalm is very attractive to office tenants, and we are very positive about the long term outlook for this location,' said Andreas Norberg, managing director and head of transactions for the Nordics at CBRE Global Investors.
'During the past year we acquired Jägersro Center in Malmö and HH1 in Oslo. The acquisition of Tobaksmonopolet 2 compliments our recent acquisitions, further strengthening our Nordic portfolio. We look forward to acquiring more quality assets in the region for our clients in 2017,' concluded Norberg.
