NR Nordic & Russia Properties has entered into an agreement to sell Katthavet 8, its only remaining real estate asset in Stockholm, to local property company Balder. Although the transaction price was not disclosed, the disposal is said to amount to SEK 400-450 mln (roughly EUR 50 mln). The transaction is expected to close in the second half of June 2011.
NR Nordic & Russia Properties has entered into an agreement to sell Katthavet 8, its only remaining real estate asset in Stockholm, to local property company Balder. Although the transaction price was not disclosed, the disposal is said to amount to SEK 400-450 mln (roughly EUR 50 mln). The transaction is expected to close in the second half of June 2011.
The property, also known as Berns, is fully let and offers some 5,300 m2 of office space and a 2,800 m2 hotel.
'We have managed to acquire one of the most well-known commercial real estate assets in Stockholm. The property has a long history and since 1863 Berns salons have been a unique venue in the entertainment world,' said Balder's CEO Erik Selin.
DTZ and law firm MAQS advised the vendor.
