Stockholm-headquartered Revelop has acquired Berga 11:52 located in Åkersberga, a key development node in the northern Stockholm area.
Financial details were not disclosed.
The asset consists of 6,500 m2 lettable space with majority of tenants being publicly funded.
The asset is located adjacent to the modern shopping center Åkersberga Centrum, a 70 metre walk from the commuter train station Roslagsbanan, with direct access to central Stockholm.
'This is a unique opportunity to create a core social infrastructure asset with long lease duration and high ESG-credentials situated in one of Stockholm’s prime submarkets,' said Thomas Sipos, group CEO and executive partner at Revelop.
Åkersberga Centrum, which is located in Österåker municipality, has been earmarked for continued urban development, including a new travel centre.
The municipality plans to develop 15,000 m2 for services, offices, and commerce, construct around 1,000 apartments, and create 7,000 new job opportunities in one of Sweden's fastest-growing municipalities.
The asset is freehold with approximately 60% of total rental income represented by direct and indirect government-financed operations with high occupancy.
The main components of the business plan is to increase the share of social infrastructure space, establish Revelop’s coworking concept - C/O Workspace, and to launch a comprehensive ESG programme including technical upgrades to significantly reduce OPEX with improved environmental footprint.
Sipos added: 'The main source of heating is currently from electricity with direct effect. The installation of solar panels, district heating and an AI controlled BMS will dramatically reduce operating expenses and emissions.
'This is a good example of Revelop’s from brown to green strategy where we extend the life of existing assets rather than build new.'
