SWEDEN – Sweden's second-largest pension provider AMF has bought two Stockholm office buildings from a fund managed by Aberdeen Asset Management.
AMF Fastigheter, the real estate division of the SEK399bn (€47bn) AMF Group, said it had bought the two properties from Aberdeen's Pan-Nordic property fund.
Marievik 23 and Marievik 26, located in the capital's district by the same name, will increase the pension provider's lettable space in the area by a third.
Prior to the acquisition, it owned 80,000 square meters of lettable space in Marievik.
Mats Hederos, chief executive at AMF Fastigheter, said he was pleased with the SEK1.3bn acquisition, which complemented the firm's portfolio in the district.
"In recent years, Marievik evolved and now has a good mix of jobs and housing," he added.
The company further noted that the southern part of Sweden's capital had a number of attractive features, including its vicinity to a lake and good public transport links.
Martin Tufvesson, transaction manager at the subsidiary, told IP Real Estate that AMF planned to increase its current SEK40bn real estate investments beyond the current 12% of the provider's portfolio.
He said the increased allocation would likely focus almost entirely on domestic investments.
Hederos added that the ease with which residents could access the city centre was a "positive" and would soon allow for the district to be regarded as part of the inner city.
The acquisition was announced the same day that Sweden's AP3 bought a 72-strong portfolio of food retail units spread out across the country.
The buffer fund acquired the portfolio for SEK1bn from Axa Real Estate.
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