Barings Real Estate, part of Barings LLC, has acquired Härolden 44 in Stockholm, Sweden, also known as Fleming 7 from the Swedish fund manager Mengus for over €100m. Barings was advised by Catella Corporate Finance and REAL Advokat.
The office property is located in a close proximity to Stockholm Central Station and offers a total lettable area of approximately 10,000 m². The fully let office property was built in 1965 and has been refurbished several times over the years, including a recent extension of the property with two additional office floors in 2017. The property has 12 tenants and includes a parking garage, a restaurant, and a fitness centre. The property holds a BREEAM certificate with a rating of Very Good.
Gunther Deutsch, Head of Real Estate Transactions Europe at Barings said: “Fleming 7, which is our second investment in Sweden after an acquisition of a retail high street building in Malmo, was bought for one of our pan European core strategies to strengthen Barings’ presence in the Nordics. We are continuously looking for logistics, office, residential and hotel opportunities in Sweden and Finland varying from core to value-add on the risk spectrum."
