AP Fastigheter sells Scandic Sergel Plaza (SE)

AP Fastigheter sold the Skansen 18 site leasehold, where Scandic Sergel Plaza is the tenant, for SEK 565 million. The buyer is Stena Fastigheter, and completion took place on 1 September2005.

The Scandic Sergel Plaza is Stockholm's third-largest hotel, with a total of 403 hotel rooms. Altogether, the building comprises an area of some 25,000 m².

"This type of dedicated hotel building doesn't fit into the framework of our investment strategy. Nevertheless, we still own hotels in the areas where we have full service responsibility — in Nacka Strand and Värtahamnen, for instance," says Per-Håkan Westin, CEO of AP Fastigheter.

The advisor in this deal has been Leimdörfer. Since the deal, AP Fastigheter has further focused its property portfolio. It now owns
mainly properties containing office premises, retail and residential at its three main centres, Stockholm, Uppsala and Göteborg. This year to date, AP Fastigheter has implemented property transactions corresponding to SEK 4,400 million. Of this sum, acquisitions make up some SEK 1,750m and sales SEK 2,650m.

Source: AP Fastigheter

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