Genesta picks up Stockholm film industry office

Nordic fund and investment manager Genesta has acquired an office property in Solna, Stockholm on behalf of its GNRE Fund III from GSS Fastigheter.

Financial details were not disclosed.

The asset at Filmstaden 23 was built in 1919/1920 and 2004, and comprises four buildings over 9,400 m2. It is let to tenants including film industry players Filmstaden, Odeon Group and Universal Sony Pictures.

'We are excited by the opportunity to expand our presence in one of our key markets through the acquisition of such a unique property. The attractive location and the property’s potential suits our investment strategy perfectly,' said Genesta CEO David Neil.

GNRE Fund III is focused on value-add office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region.

Genesta was advised by Roschier and PWC during the acquisition.

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