Oscar acquires patent office in Stockholm for resi add-on

Residential developer Oscar Properties has acquired the headquarters of the Swedish patent office in Stockholm for SEK 650 mln (€70 mln).

The property is located at Valhallavägen 136 in the Östermalm district of the Swedish capital. The main building comprises 13,200 m2 of leasable area occupied by the patents and registration office.

There are a further two annexes of 1,400 m2 each which are currently empty. Oscar Properties plans to convert these wings for residential use when rezoning takes effect.

Nordic investment banking group ABG Sundal Collier advised an Oscar subsidiary on securing a loan to finance the acquisition.