German insurance company Allianz has sold the Stockholm CBD property Jericho 34. The property's rentable area exceeds 21,000 m², is fully leased to among others EY which is the largest tenant and consists of offices, shops and residential units. The building is modern, flexible and of a high technical standard.
The buyer is AMF Fastigheter. The acquisition closed on December 2, 2013, with a property value of about SEK 1.6 billion (approx. €180 million).
Allianz acquired the property in 2005 from Diligentia. Jones Lang LaSalle advised Allianz on this transaction.
“There was great interest from both domestic and international capital. It is exactly this type of real estate that many institutional investors are interested in - properties with high standard, stable tenants as well as an attractive location in downtown Stockholm", says Daniel Gorosch, Managing Director of Jones Lang LaSalle in Sweden.
Source: Jones Lang LaSalle