Akademiska Hus sells Forum building and leasehold in Kista to M2 Group (SE)

The property company Akademiska Hus has signed an agreement with the M2 Group regarding the sale of the Stockholm Reykjanes 1 leasehold together with the Forum building in Kista for SEK 204 million (approx. €22.5 million)

The Forum building comprises 28,600 m² together with an underground parking facility with 559 spaces. The site also includes development rights covering 10,000 m².

The M2 Group holdings include residential, retail and office properties with total floor space of approximately 400,000 m².

Mia Arnhult of the M2 Group says: "This is a highly interesting development project for us. Assuming consent is granted by the City of Stockholm, we can work together with our skilled housing development team at Wäst-Bygg and hopefully be able to develop a relatively large number of new, cost-effective, energy-smart apartments in the heart of Kista."

Sten Wetterblad, Regional Director for the Akademiska Hus Stockholm Region, says: "We are pleased with the agreement and we are convinced that the M2 Group will successfully develop the property and thus the most central area of Kista."

Savills acted as advisors to Akademiska Hus in conjunction with the sale.

The M2 Group will take over the property on October 1, 2014.

Source: Akademiska Hus

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