Swedish listed property firm Fabege is acquiring the Stora Frösunda 2 and Hagalund 2:2 properties in Solna, near Stockholm from peer Catena for SEK 1.45 bn (€155 mln).

Swedish listed property firm Fabege is acquiring the Stora Frösunda 2 and Hagalund 2:2 properties in Solna, near Stockholm from peer Catena for SEK 1.45 bn (€155 mln).

The properties, located in the developing Haga Norra area, have a site area of about 51,000 m2 and comprise 225,000 m2 of development rights for residential and commercial use.

'As a result of the acquisition, we ensure access to attractive office development rights in an area with very good transport links. We continue to see great potential from Fabege’s future development of Arenastaden,' commented Christian Hermelin, president and CEO of Fabege, which owns SEK 34 bn of assets in Sweden.

The deal, which is expected to close in June 2015, is subject to approval by an extraordinary general meeting of Catena shareholders, since it is considered a related-party transaction due to Fabege’s controlling interest in Catena.