Stockholm-listed property investor Kungsleden has acquired the Gladen 4 property in Kungsholmen for SEK 428 mln (€41 mln), to strengthen its presence in the existing Stockholm City West cluster.
The property, which is being purchased from local fund Areim, comprises a 7,600 m2 office building with an annual rental value of just over SEK 25 mln.
The property's largest tenants are LRF Konsult, Förlagssystem, Region Stockholm/Stockholms Läns Landsting and the GEP Communication Group. The transaction will be finalised on December 12.
'The acquisition gives us even greater opportunities to further develop Stockholm City West aa a modern and sustainable office cluster with attractive and inspiring places,' said Ylva Sarby Westman, deputy CEO and chief investment officer at Kungsleden.
'The area is located both centrally and close to water and green space. We have our head office here ourselves and believe it is an excellent area,' Sarby added.
Kungsleden already owns six properties in Stockholm City West and with Gladan 4, the total area of its holdings will amount to approximately 58,000 m2, the firm said.