INTERNOS Global Investors (INTERNOS), the owner-managed, pan-European real estate fund management firm with €3.5 bln of assets under management, has disposed of an office building in Stockholm to Mengus Twelve AB, on behalf of the EURO OFFICE 1 fund. Mengus Twelve AB, a property holding company of Mengus Stockholm 2011 AB, a fund specialising in value add real estate investments in the greater Stockholm area, has bought the asset for 310 mln SEK (ca. €33.2 mln).
The property, constructed in 2002, is a seven-storey office building with a total lettable area of 10,141 m². It is situated at Råsundavägen 18-20, in the Solna submarket of Stockholm. This location is particularly popular with life science, wholesale/retail and transport companies.
The vendor was advised by CBRE and Setterwalls on this transaction and Sweco and Roschier acted for the purchaser.
Euro Office 1, launched in 2003, has a low-risk core investment strategy, concentrating on the leading economies in the Eurozone and Scandinavia. The fund has a total of around €127 mln assets under management. Following this disposal, the portfolio now comprises six properties situated in Germany, France, the Netherlands, and Portugal.