Helaba Real Estate, the property arm of the Frankfurt-based financial services company, has provided a long-term acquisition facility amounting to SEK 770 mln (€78.5 mln) for M&G Real Estate in Stockholm.
The loan finances the purchase of Blekholmen 1, an office scheme located next to Stockholm Central Station. The 34,000 m2 building is multi-let to 30 tenants and has recently undergone significant refurbishment. The deal marks M&G Real Estate's largest single continental European acquisition.
Helaba Real Estate, which acted as sole lender and hedging provider, has been active in the Nordic region since 2006. It established an office in Stockholm last year to expand its activities in Sweden and the Nordics.
M&G Real Estate, the property fund management arm of M&G, had over £26 bn invested in properties across Europe, North America and the Asia Pacific region as of 30 June 2016.
