Private equity group Sveafastigheter has reached agreement with Swedish pension group Alecta on the redevelopment and sale of two buildings in Vällingby Parkstad, in the Råcksta area of Stockholm. The investment details were not disclosed.
Private equity group Sveafastigheter has reached agreement with Swedish pension group Alecta on the redevelopment and sale of two buildings in Vällingby Parkstad, in the Råcksta area of Stockholm. The investment details were not disclosed.
The assets, which housed the headquarters of water company Vattenfall, were acquired by Sveafastigheter in 2006 from German investor IVG. They will be transformed into approximately 460 rental apartments, with construction work due to start in the beginning of 2013. First occupancy is scheduled to take place in autumn 2014.
'There is a great need for rental apartments in Stockholm, so this addition is welcome. The proximity to shopping in Vällingby City, greenery and subway with just over 15 minutes to Kungsholmen make Vällingby Parkstad attractive,' said Simon de Château, CEO of Sveafastigheter.
'Acquiring rental apartments in good condition and location has been a priority for us,' added Fredrik Palm, head of real estate Sweden at Alecta.
Catella and Kilpatrick Townsend advised Sveafastigheter, Falkenborn Advokatbyrå acted for Alecta.
