Sweden's Fabege has acquired a fully occupied office-educational property from peer Akademiska Hus for EUR 41.6 mln. The Mimer 5 complex, located in the capital city of Stockholm, has a gross lettable area of 12,100 m[sup]2[/sup] and is 'in good condition after a thorough renovation a few years ago', Fabege indicated in a press release issued on Wednesday.
Sweden's Fabege has acquired a fully occupied office-educational property from peer Akademiska Hus for EUR 41.6 mln. The Mimer 5 complex, located in the capital city of Stockholm, has a gross lettable area of 12,100 m2 and is 'in good condition after a thorough renovation a few years ago', Fabege indicated in a press release issued on Wednesday.
The net yield of the transaction comes to 6.8%. Comparable deals in the inner city are done at a net yield of around 6%, researchers at Kempen & Co have stated. Faberge already owns other properties in the area, including the Wenner-Gren center. 'Mimer 5 is an excellent addition and strengthens our portfolio in the Norrtull/Norra Stationsomradet area', Fabege's ceo Christian Hermelin said.
Fabege is one of Sweden's leading property companies and is listed on the Stockholm Stock Exchange. The book value of the company's property portfolio is EUR 29.4 bn.