Hufvudstaden acquires property in Stockholm (SE)

Hufvudstaden has acquired the Rännilen 15 property at Smålandsgatan 12 in central Stockholm. The seller is Handelsbanken Liv. The purchase price is approx. €31 million (SEK 312.5 mln) and the takeover date is June 1, 2007.

The rentable floor space totals 3,353 m², of which 2,159 m² office space, 651 m² retail space and 543 m² storage. The property is fully leased and the operating net amounts to approx. €1.4 million (SEK 14.1 mln).

The acquistion of the Rännilen 15 property is in line with Hufvudstaden's strategy of concentrating its portfolio to central Stockholm and is a natural complement to Hufvudstaden's portfolio in the so called Golden Triangle.

"Rännilen 15 fits Hufvudstaden's portfolio very well, particularly since we already own the other properties in the block," says Ivo Stopner, President of Hufvudstaden. "This acquisition will result in synergy effects in terms of revenues and costs."

Source: Hufvudstaden

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