Strawberry Properties, the real estate arm of the privately held Norwegian financial corporation, Strawberry, has acquired a hotel property in Stockholm for an undisclosed sum.
Strawberry is controlled by Norwegian hotel and property development billionaire, Petter Stordalen.
The vendor was Scius, the asset's operating partner on behalf of Starwood Capital Group.
'We are pleased to have signed this transaction with Strawberry Properties who is a natural longer term owner of the property,' commented Mikael Freudmann, CEO at Scius Partners.
Starwood Capital, via a controlled affiliate of Starwood Global Opportunity Fund X (SOF X), acquired the property known as Håbo Bista 1:527 in 2015. It was purchased as part of the SveaReal-portfolio deal in Sweden and DNB NOR Eiendomsinvest I ASA in Norway, the biggest portfolio transaction in the Nordics that year.
The property, located in Bålsta, comprises 15,000 m2 of net lettable area and is fully let to Aronsborg Conference Hotel.
AG Advokat acted as legal advisor, while Pangea Property Partners was commercial advisor in the transaction.
In the last 18 months, Pangea has advised on nine hotel transactions across the Nordics with an underlying property value of around €1.2 bn. The mandates include almost 4,200 hotel rooms in Sweden, Norway and Denmark.
