Colliers International has said it advised Trygg-Hansa Insurance on the sale of its 40,000 m2 Stockholm HQ to the Areim II Fund.
Colliers International has said it advised Trygg-Hansa Insurance on the sale of its 40,000 m2 Stockholm HQ to the Areim II Fund.
Although financial details were not disclosed, the asset is estimated to be worth around SEK 2.4 bn (€272 mln).
Robert Treutiger, partner and head of investment at Colliers International said: 'This was a fascinating transaction to be involved with for two reasons. Firstly, it is a very interesting property to work on; and secondly because we had a very tight schedule to take into consideration. It was also good to see the bank’s positive attitude to financing, which demonstrates the strengthening of the market; and the increased desire from occupiers to source funding opportunities.'
'We experienced considerable interest during the sales process from local players; however international interest in the asset wasn’t as strong as we expected. This could have been because of the short contract periods involved. International investors tend to be more concerned with unlocking long term investments; rather than at a property’s short term potential and its location.'
Trygg-Hansa (part of the RSA Group, the world’s leading insurance company) conducted the sales process as a sale-and-leaseback in order to focus on their core business and allow them to continue to occupy the building. Areim will take over the planning and development an additional 7,500 m2 new construction, which is under construction.