Nrep, Urban Partners’ real estate investor, has announced that its Nrep NSF V Fund has completed the acquisition of one of Stockholm’s largest hotels, Clarion Hotel Stockholm, from Aspelin-Ramm Fastigheter AB.
Clarion Hotel Stockholm has 532 rooms spread over 23,700m2 of lettable area. It houses bars, restaurants, a spa and gym, as well as meeting and conference rooms. The property is fully leased to Strawberry with a long-term lease. The acquisition gives Nrep access to more than 1,000 hotel rooms in central Stockholm.
The hotel is located next to the Skanstull metro, a stone's throw from the heart of Sodermalm and with beautiful walking paths and marinas in proximity. The emerging Söderstaden, which includes Slakthusområdet, Gullmarsplan and the Globen area's magnificent arenas, is also nearby and strengthens the hotel's long-term guest base. Avicii Arena and 3Arena (formerly Tele 2 Arena) host some of the country's biggest events and attract more than 3.5 million visitors annually.
Carl-Adam von Scheele, Country Manager for Nrep Sweden, said: "It is a well-designed, well-managed and functional property we are acquiring from Aspelin Ramm Fastigheter and it is fully in line with our ambition to acquire high-quality assets with strong operators in important urban locations. By combining our focus on sustainability with improvements in the hotel's commercial offering, we can create value that benefits the guests, Strawberry and Södermalm as a district and destination."
The property currently has the BREEAM Very Good certification and has good potential to obtain BREEAM Excellent with minimal investment.
Written by Leon Goldwater for Europe Real Estate.
Image source - Urban Partners.
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