Credit Suisse Asset Management (CSAM) has agreed to pay Sweden's NCC Property Development SEK 658 mln (EUR 72.4 mln) for the Vasterport office project in Stockholm. The project comprises approximately 20,000 m[sup]2[/sup] of office space and will be sold in the form of a company. Credit Suisse is scheduled to take possession of the property in the summer of 2008, conditional on approval of an amendment to the development plan. NCC said the sale will generate an initial gain of SEK 30 mln, but that incentive components may have a positive influence on the price as the leasing progresses.
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