Keops has sold the Fatburen office propert in Stockholm to Dublin-based Vico Capital at a price of approx. €259 million (SEK 2,660 million).
The property was acquired by Keops in May 2005 at a total price including costs of approx. €200 million (SEK 2 billion). Since then, the price of Stockholm office property has developed favourably. Accordingly, Keops realizes a considerable increase in value on the sale.
Vico Capital is a property investment company owned and controlled by Brian O'Donnell and Dr. Mary Patricia O'Donnell. Vico Capital has been very active on the London City market and owns large office buildings in Canary Wharf and Westminster. This is Vico Capital's first acquisition in Stockholm.
The Fatburen property is included in the three property portfolios which were designated as ready for sale as a part of Keops' six-point plan for consolidating, focusing and increasing professionalism of the Group.
Catella acted as broker on the sale.