Swedish construction company Skanska said it has sold a 10,500 m[sup]2[/sup] office building in the Lindhagensterrassen area of Stockholm for SEK 495mln (EUR53mln) to health insurer AFA Sjukforsakringsaktiebolga in a deal that gives Skanska a capital gain of SEK 160mln. The building, whose tenants include transport company Storstockhoms Lokaltrafik, the Stockholm County Council and Inspecta, will be occupied in June 2008 and the capital gain will be recognised in the second quarter of the year.
Swedish construction company Skanska said it has sold a 10,500 m2 office building in the Lindhagensterrassen area of Stockholm for SEK 495mln (EUR53mln) to health insurer AFA Sjukforsakringsaktiebolga in a deal that gives Skanska a capital gain of SEK 160mln. The building, whose tenants include transport company Storstockhoms Lokaltrafik, the Stockholm County Council and Inspecta, will be occupied in June 2008 and the capital gain will be recognised in the second quarter of the year.
The Gangaren 18 property is one of the construction company's commercial development projects in Stockholm's Lindhagensterrassn are, where it has developed about 140,00 m2 of commercial properties and invested about SEK 5bn since 1996. Skanska is also developing residential projects in the area.
The deal represents AFA's third transaction with Skanska in the Lindhagensterassen area, AFA Forsakring property manager Tomas Ingemarsson said in a statement. 'We believe the area will continue to develop favorably and, consequently, that this is a solid investment,' he said.
