Vasakronan buys in Central Gothenburg for EUR 243m

Swedish property investor Vasakronan has announced the acquisition of a commercial real estate portfolio in central Gothenburg, Sweden for SEK 2.15 bn (EUR 243 mln). The vendor is peer Diligentia.

The package consists of 12 centrally-located offices and shops providing a total of 92,000 m². Offices represent roughly 80% of the space, with retail accounting for the remaining 20%.

'We are now selling some of our properties in Gothenburg, but at the same time we continue to invest in our remaining Gothenburg portfolio,' said Anders Kupsu, Diligentia's CEO.

Frederick Wirdenius, CEO of Vasakronan, commented: 'There is great demand for offices in Gothenburg and we estimate that the centre will continue to see a positive development. Our portfolio has almost no vacancies at the moment.'

Closing is expected to take place on April 2, 2012.

Earlier this month, Vasakronan sold an office and residential-led mixed-use portfolio in the Nacka Strand area of central Stockholm to global alternative investment manager The Carlyle Group for SEK 2.95 bn.