Norrporten, a Swedish office property investor owned by two of the country's largest pension funds, has acquired an entire block in central Stockholm offering some 53,000 m[sup]2[/sup] of office space for SEK 1.1 bn (EUR 125 mln). The vendor is life insurance group Handelsbanken Liv.
Norrporten, a Swedish office property investor owned by two of the country's largest pension funds, has acquired an entire block in central Stockholm offering some 53,000 m2 of office space for SEK 1.1 bn (EUR 125 mln). The vendor is life insurance group Handelsbanken Liv.
Norrporten, which is headquartered in Sundsvall, said the deal brings its total portfolio in the Swedish capital to 80,000 m2, adding that it plans to open an office in Stockholm after closing of the transaction. 'Now our presence in the market is large enough to allow us to have our own local organization in the capital, which is important to meet tenants' needs and demands,' said vice-president Jörgen Lundgren.
The site will be operated by Coor Service Management until the summer, after which a new asset manager will be appointed. Major tenants in the buildings are Svenska Handelsbanken, Handelsbanken Liv, Fortum, SIPU and Stadshypotek.
The deal is the second major acquisition by Norrporten in Stockholm in less than six months. Last September the investor bought the Hagaporten 3 office property in Solna, Stockholm for about SEK 1.1 bn from Skanska's Commercial Development Nordic unit.
