Swedish property company Fabege is buying two office buildings in central Stockholm from peer Niam for a total SEK 2 bn (EUR 212 mln). The first property, Trängkåren 7, comprises around 56,000 m[sup]2[/sup] of lettable space, of which 47,000 m[sup]2[/sup] is office space. The second property, Grönlandet Södra 13, comprises around 8,000 m[sup]2[/sup] of lettable space. The office property is entirely let to the Swedish Social Insurance Agency. In another deal, Fabege sold the land property Marievik 31 to JM for SEK 295 mln.
Swedish property company Fabege is buying two office buildings in central Stockholm from peer Niam for a total SEK 2 bn (EUR 212 mln). The first property, Trängkåren 7, comprises around 56,000 m2 of lettable space, of which 47,000 m2 is office space. The second property, Grönlandet Södra 13, comprises around 8,000 m2 of lettable space. The office property is entirely let to the Swedish Social Insurance Agency. In another deal, Fabege sold the land property Marievik 31 to JM for SEK 295 mln.
'These deals are in line with our business model of optimising our total return - the yield and the increase in value - and focusing on a number of priority sub-markets. The properties we are acquiring will fit well into our portfolio in Stockholm's inner city,' Fabege's CEO Christian Hermelin said.
Stockholm-based Niam bought the properties as part of a portfolio in October last year from the Norwegian company Acta Kapitalförsäkring.
