Catella advisor to Sveafastigheter (SE)

Catella Corporate Finance in Stockholm has advised Sveafastigheter in the divestment of two properties to Alecta.

Sveafastigheter and Alecta enter into an agreement regarding a property transaction in Vällingby Parkstad.

Alecta has entered into an agreement with Sveafastigheter regarding the acquisition of two buildings in Vällingby Parkstad, which formerly was Vattenfall's headquarters in Råcksta. Sveafastigheter acquired the two office buildings in 2006 from German IVG and will rebuild them into approximately 460 rental apartments. The construction work starts beginning of 2013 with completion in 2014. First occupancy is scheduled to take place autumn 2014.

- There is a great need for rental apartments in Stockholm, so this addition is welcome. The proximity to shopping in Vällingby City, greenery and subway with just over 15 minutes to Kungsholmen make Vällingby Parkstad attractive, says Simon de Château, CEO of Sveafastigheter.

- We are very pleased to complement our existing portfolio with modern rental apartments in the Stockholm area and be a part of the development of Vällingby Parkstad. Acquiring rental apartments in good condition and location has been a priority for us, so it feels really good that we have been able to complete this transaction, says Fredrik Palm, Head of Real Estate Sweden at Alecta.

Vattenfall moved their entire operations in September this year. In January 2013 starts the redevelopment of existing buildings, some demolition, planning of new infrastructure and the construction of new houses. The area will have about 1,300 homes, divided into rental apartments, condominiums and townhouses. In the area there will be local services, parking, preschool and school. Approximately 3,000 people will live in the area.

Catella and Kilpatrick Townsend have been advisors to Sveafastigheter in this transaction.

Falkenborn Advokatbyrå has been advisor to Alecta.

Source: Sveafastigheter/Castella

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