AXA Real Estate Investment Managers (AXA REIM) are the advisers in one of the largest single property deals undertaken in Sweden this year. Sturegallerian, Stockholm's most sophisticated shopping center, has been acquired by an institutional investor and advised by AXA REIM. The vendor is Diligentia AB, owned by Skandia Life.
Valued at approximately €440 million (approx. SEK 4 billion) at the time of the deal, Sturegallerian is centrally located and comprises of luxurious retail boutiques, restaurants and considerable office space and development potential.
Richard Ray, Head of Acquisitions, Nordic, AXA REIM, commented: "Europe remains a core focus for AXA REIM and the Nordic region in particular is an area that we have been more and more active. This record deal reflects AXA REIM's growing influence in the region, and we believe the Sturegallerian Gallery has excellent long term investment potential."
Catella Corporate Finance acted on behalf Diligentia and AXA REIM were advised by Savills.
Source: AXA REIM