Swedish pensions and insurance group Folksam has signed a SEK1.63bn (€166m) deal with property firm Stena to buy four office properties in central Gothenburg.
Folksam said the deals were a continuation of its involvement in the west Swedish city, following on from its first office investment there last spring.
The four-property deal includes assets in the Gårda and Stampen districts of Gothenburg.
Lars Johnsson, head of the Folksam Group’s real estate business, said: “These fine properties are located in two of the Gothenburg submarkets that we consider the most attractive for businesses and organisations.
“The investment give us a good basis for a continued expansion and involvement in Gothenburg offices,” he said.
The investments would give Folksam customers a good risk-adjusted return that was secure over the long-term, he said.
In total, the properties have around 36,000sqm of rentable office space.
Buyers within the group are both Folksam’s life and non-life insurance subsidiaries.
