Stockholm-listed real estate investor Fabege has sold its last asset located in Gamla Stan, the old town of Stockholm for SEK 180 mln (almost €19 mln).
The 3,150 m2 Pan 1 building consists of mainly office space at Stora Nygatan 40/Lilla Nygatan 23. Local company AB Parts & Paomees acquired Pan 1 via the acquisition of the vehicle that owns the building.
'Pan 1 was our only remaining property in Gamla Stan and the sale is consistent with our business concept of streamlining and focusing on our priority areas,' said Klaus Hansen Vikström, Fabege's deputy CEO and director of business development.
Fabege focuses on letting and managing office premises as well as city district development. The company owns properties with a total carrying amount of SEK 42.4 bn. The property portfolio, which is concentrated in the Stockholm region, has a rental value on an annualised basis amounting to SEK 2.3 bn and a lettable area of 1.1 million m2. Fabege’s shares are listed on Nasdaq Stockholm, in the Large Cap segment.
