Listed Swedish real estate company Fabege has sold the Duvan 6 and Lammet 17 office buildings in the centre of Stockholm in two separate transactions worth a total of €94 mln (SEK 853 mln).
Listed Swedish real estate company Fabege has sold the Duvan 6 and Lammet 17 office buildings in the centre of Stockholm in two separate transactions worth a total of €94 mln (SEK 853 mln).
The assets were bought by Nordic private equity group Mengus and local property firm Slussgården respectively.
Duvan is located at Klara Södra Kyrkogata 1 and comprises 9,670 m2 of lettable office area. Lammet is located at Korgmakargränd 2 and provides 6,790 m2 of space, with office and retail accommodation accounting for 5,660 m2.
Fabege said the sales will generate a profit before tax of SEK 25 mln, to be recognised in the second quarter of 2014.
'We have decided to sell these leaseholds to continue investing in our project portfolio, which we expect to generate a higher yield,' said Klaus Hansen Vikström, deputy CEO and director of business development at Fabege.
