Savills expands in Sweden

International real estate advisor Savills has acquired Stockholm-based property management firm Stadsmuren, providing a new service offering for its clients in Sweden and adding to its European property management network.

Stadsmuren was established in 1993 and manages 300,000 m² of commercial properties and 4,000 apartments in and around Stockholm. Founded by directors Lars Backman and Thomas Pettersson, who will continue to lead the team, the 30-strong department will move to Savills' Stockholm offices. They will continue to service clients including Vasakronan, AFA, IF Metall, Svensk Handel and City of Stockholm whilst forming a close link with Savills pan-European property management network, who collectively manage over 11 million m² of property.

In addition to Stadsmuren, Savills will acquire a majority shareholding in Loudden Bygg-och Fastighetsservice AB, the technical operations provider and construction expert for Stadsmuren clients. Loudden Bygg-och Fastighetsservice AB was founded in 1995 and has 24 employees.

Ulf Nilsson, CEO Savills Sweden, said: 'Sweden is back on the map with a 95% increase in investment turnover and 135% rise in foreign investor activity in the past year. Our new team will assist these existing and new landlords with a leading property management service. We look to further expand our business by adding a leasing team in the near future.'



Lars Backman says: “We believe that Savills platform will add even more value and competence to our client service. In joining its pan European network we will benefit from additional resources and a broad level of expertise.”