Profi acquires InfraCity complex in Stockholm (SE)

Vencom Property Partners is handing over the responsibilities for InfraCity to Profi as a consequence of the sale of the asset, after successfully developing and managing InfraCity for seven years as the operating partner of Orion European 2 Investments.

InfraCity is a retail and business park of approximately 190,000 m², located halfway between the center of Stockholm and Arlanda International Airport.

Since the acquisition in late 2005 InfraCity has undergone a significant development and has now been repositioned as a strong retail and office location in the Northern Stockholm area.

- New zoning has been put in place, creating the possibility to construct approximately 130,000 m², of which approximately 50,000 m² are expected to become new retail space.

- Land has been sold to the German retail company Bauhaus and the construction of a 17,000 m² store is underway.

- Existing industrial and warehouse space has been converted into retail premises, creating a retail area with critical mass.

- The rental income has been increased by approximately 30%.

“We have had a very good cooperation with Orion during these years, but we are also pleased to hand over the responsibility for InfraCity to Profi who, I am convinced, will continue the development of InfraCity in a positive way”, says Johan A. Gustafsson, Chairman of Vencom Property Partners.

Source: Vencom

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