Invesco acquires Stockholm office property (SE)

Invesco acquires Stockholm office property (SE)

Invesco Real Estate, acting through their Nordic local operating partner Scius Partners, has acquired “Skalen 24”, an office property in Hagastaden, Stockholm from the Swedish institution SEB Trygg LivThe asset currently comprises a 18,000m² net lettable area with zoning to develop and add three additional floors of approximately 6,000m² of new offices as well as an adjoining residential block of circa 60 units. The purchase price was not disclosed.

 

Rob Johnston, Senior Director of UK/Nordics Transactions at Invesco Real Estate commented: “We have been invested in Swedish real estate on behalf of our global institutional clients since 2006 and continue to be positive to the outlook for the office market in Stockholm. This opportunity is well located in one of Stockholm’s major development areas, which is experiencing significant infrastructure investment. Originally constructed as a light industrial warehouse, the building offers many distinguishing features and fits our manage-to-core strategy well. We look forward to developing this mixed-use asset, together with Scius, into a grade A office product in this exciting part of Stockholm.”

 

“The property has great qualities and we look forward to working with Invesco Real Estate to develop a first-class office asset,” said Joen Siggelin from Scius Partners.

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