Stockholm-based alternative investment firm EQT Real Estate has acquired a 9,100 m2 mixed-use property in Stockholm for approximately SEK 345 mln (€33 mln) from an affiliate of the Swedish insurance company Folksam.
Hönsfodret 1, which comprises both a school and office space, is located at Tullgårdsgatan 12 on the island of Södermalm in central Stockholm. It includes 34 garage parking spaces.
'Hönsfodret 1 presents a rare opportunity to upgrade an existing office building into an attractive inner Stockholm location,' said Henrik Orrbeck, director at EQT Partners and investment advisor to EQT Real Estate I.
'This acquisition further underpins EQT Real Estate’s ambition to deliver grade A assets fit for modern occupiers demanding flexible and creative solutions.'
'The Hönsfodret 1 investment represents what EQT Real Estate is all about – identifying underinvested assets in gateway cities in Western Europe with several value-add angles,' said Robert Rackind, partner and head of real estate at EQT Partners. 'EQT Real Estate sees many opportunities in this region and will continue to explore the sustained global demand and local needs that exist in these markets.'
EQT Real Estate I was advised on the acquisition by Linklaters, AF Consulting, Concila, Archus and Beadmans.