A joint venture between CapMan Nordic Real Estate fund and Curzon Capital Partners III, a fund advised by Tristan Capital Partners, has agreed to sell the Silverdal I office building to the Swedish real estate company Klövern AB (publ) for SEK 300 mln (approx. €32 mln) less than three years after their joint venture acquired it.
Silverdal I is located in Sollentuna in the Greater Stockholm area. This is the first exit of the CapMan Nordic Real Estate fund.
Silverdal I, (registered name Malten 1), is situated alongside the E4 motorway in Silverdal, in the municipality of Sollentuna, which is strategically located between central Stockholm and Arlanda Airport.
The largest tenants in the fully let property are Pfizer and BMW, which account for approximately 70 percent of the rental value. The lettable area amounts to approximately 13,300 m² and consists mostly of office premises. CapMan Real Estate has been managing the property on behalf of the joint venture.
The transaction is expected to close in September 2015.
Source: CapMan PLC