Largest hotel transaction in Sweden since 2015

Strawberry Forever, the investment group of Norwegian entrepreneur Petter Stordalen, has sold the property that houses Clarion Hotel Amaranten in Stockholm to NREP for SEK 1.5 bn (€145 mln).

The price paid makes this the largest single hotel transaction in Stockholm and Sweden since the Radisson Blu Waterfront Hotel was sold back in 2015. The 19,000 m 2 hotel has 461 rooms and Nordic Choice Hotels continues as tenant.

Pangea Property Partners has been exclusive sell-side advisor.

‘This is a unique hotel at the heart of Stockholm City Centre with the leading hotel chain in the Nordics in Nordic Choice as a long-term tenant,’ said Bård Bjølgerud, CEO and Partner at Pangea.

‘The transaction of this high-quality asset is one of the largest single hotel transactions in Sweden’, he confirmed.

‘It crosses all the borders in Scandinavia, with a Norwegian seller, a Swedish asset and a Nordic buyer.’

The Clarion Hotel Amaranten is located in the vibrant Kungsholmen district, surrounded by water and pedestrian streets, just 8 minutes' walk from the central station. The boutique hotel has a 1960s-inspired design, complete with dining options, bar, gym and relaxation area. The hotel also has a meeting and conference centre.

The seller has stated the asset was not for sale, but it was 'difficult to say no' to a serious and solid buyer with a clear development plan for the asset. Interest came from both Norwegian and international investors. 

 

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