Stockholm-based real estate company Vasakronan has bought part of the Tre Vapen 2 property in Ostermalm, central Stockholm for SEK 1.1bn (EUR 120mln) from Swedish peer Akademiska Hus. The property, which comprises a total leasable area of 38,000 m2, is occupied by the Swedish Environmental Protection Agency and the National Academy of Mime and Acting on long-term leases. The mime academy’s space is being renovated by the seller and will be transferred to Vasakronan on 1 September 2008.
Stockholm-based real estate company Vasakronan has bought part of the Tre Vapen 2 property in Ostermalm, central Stockholm for SEK 1.1bn (EUR 120mln) from Swedish peer Akademiska Hus. The property, which comprises a total leasable area of 38,000 m2, is occupied by the Swedish Environmental Protection Agency and the National Academy of Mime and Acting on long-term leases. The mime academy’s space is being renovated by the seller and will be transferred to Vasakronan on 1 September 2008.
'Vasakronan is strengthening its market share in the Ostermalm district in Stockholm through this property acquisition,' Leif Garph, Vasakronan executive vice president said in a statement. The asset is 400 metres from Vasakronan’s Garnisonen property.
Vasakronan is one of the largest commercial property companies in Sweden. It owns 96 properties, with a market value of approximately SEK 30bn, in Sweden. The portfolio generates an annual rental revenue of SEK 1.9bn.
