Areim has sold Gångaren 10, an approx. 31,000 m² asset comprising three adjoining office buildings and also known as Lindhagensporten, on behalf of Areim Fond I to global investment manager Invesco Real Estate via its local partner, Scius Partners. The property, which is located in Western Kungsholmen in central Stockholm, in Sweden, is one of the most established office locations in Stockholm outside of the CBD.
Areim has redeveloped the property into modern offices with high standards and an environmental focus. Securitas and Stanley Security Solutions are two examples of large and well known tenants in the property. The last phase of the office project with 11,000 m² of new modern office space is estimated to be completed in Q4 2016.
“We are very happy to sell Gångaren 10 to Invesco Real Estate, as they are an active investment manager across Europe. We will together finalise the development of the property further enhancing its attractiveness. The divestment is in line with our strategy to divest Fund I”, says Tiffany Strand, Fund Manager at Areim.
“We are delighted to have acquired Gångaren 10, which complements our pan-European strategy well and provides further diversification to the existing portfolio. Thanks to our local, on-the-ground partner, Scius Partners, who have deep local insight to enable us to access and actively manage good quality assets, we were able to secure this opportunity. In our view, the Swedish real estate market is one of the strong European economies which we believe offers one of the best opportunities for rental growth”, says Paddy Bingham, Managing Director – Fund Management at Invesco Real Estate.
Source: Areim
