Union Investment Real Estate has acquired the U6 office complex in Solna near Stockholm from Swedish developer Fabege for €120 mln.
The seven-storey scheme, which provides 18,000 m2 of rental space, was completed at the end of 2017, and is mainly let to Siemens with other tenants including care services provider Ambea and H&M. It includes 1,000 m2 of retail accommodation on the ground floor as well as 51 parking spaces.
Fabege will be responsible for managing the almost fully-let property going forward.
Union made the purchase on behalf of its Unilmmo: Europa open-ended real estate fund, which is now invested in a total of 19 countries across Europe, North America and Asia-Pacific.
Third acquisition in Stockholm
U6 is the third property Union Investment has acquired from Fabege in the Arenastaden office district. Previously, the Hamburg-based real estate investment manager bought the Vattenfall headquarters building, which offers some 44,000 m2 of rental space, for sister fund Unilmmo: Deutschland and the adjacent U7 building, likewise comprising around 18,000 m2 of rental space, for UniInstitutional European Real Estate.
'The Arenastaden development district is currently one of the most popular office locations in the Stockholm area, as demonstrated by the large number of high-profile companies that are locating there,' said Martin Schellein, head of Investment Management Europe at Union Investment Real Estate.
Aside from its partnership with Fabege, Union Investment also recently acquired the approximately 6,000 m2 Stockholm Hub office building in the centre of the Swedish capital for its Unilmmo: Global fund.
