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.