Alecta has completed the sale of its remaining directly-held US real estate assets.
Sweden’s largest occupational pension provider confirmed it has now sold its portfolio of 22 assets, worth around $1.8bn (€1.67bn).
Three office buildings in San Francisco Bay area were, as reported last month, sold to Blackstone Real Estate Partners for $291m, according to sources familiar with the transaction.
Alecta would not name the buyer of the remaining 19 assets in its US portfolio.
Two of the properties bought by Blackstone – 590 and 686 East Middlefield Road – are in Mountain View, California and were sold for $57.1m and $97.3m, respectively.
The former is occupied by Omnicell, a healthcare solutions firm, and the latter let to Siemens Healthcare.
A third asset acquired by Blackstone is a 273,000sqft office building at 601 California Avenue in Palo Alto.
Alecta’s own offices in London and San Francisco will be closed in the first half of the year, a move first announced in April last year.
Alecta today said it had appointed Frans Heijbel as portfolio manager for its non-Swedish indirect real estate portfolio, worth around $1.4bn.
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