Swedish property major Fabege has sold the Racketen 10 property in Alvik, western Stockholm to Carnegie Fastigheter Sverige for SEK 700 mln (EUR 75 mln). The transaction resulted in a realised change in value before tax for Fabege of SEK 60 mln. Fabege is to retain a small portion of the property 37,280 m[sup]2[/sup] property for its own project development. Offices account for almost 25,000 m[sup]2[/sup] of the property. Another 3,600 m[sup]2[/sup] is allocated to warehousing and industry while the remainder is retail.

Swedish property major Fabege has sold the Racketen 10 property in Alvik, western Stockholm to Carnegie Fastigheter Sverige for SEK 700 mln (EUR 75 mln). The transaction resulted in a realised change in value before tax for Fabege of SEK 60 mln. Fabege is to retain a small portion of the property 37,280 m2 property for its own project development. Offices account for almost 25,000 m2 of the property. Another 3,600 m2 is allocated to warehousing and industry while the remainder is retail.

Simultaneously, Fabege acquired Planen 4 in Solna, north of Stockholm city centre, from Carnegie Fastigheter for SEK 100 mln. The 5,000 m2 property mainly comprises offices and is fully let. Carnegie Fastigheter Sverige was established in 2005 by Nordic investment bank Carnegie. Fabege is the largest quoted Nordic property company and the majority of its commercial properties and projects are in the Stockholm region. It said the exchange that is to take place on April 2 is in line with its strategy of divesting properties outside its main markets at a good profit.