Skanska Commercial Property Development Nordic has divested the office building Hyllie Terrass in Malmö, Sweden, to Skanska Investment Properties for SEK 730 mln (€64 mln).
The internal transaction has no effect on cash flow and the transfer will take place immediately.
Hyllie Terrass is built with climate-improved concrete, recycled reinforcement, energy storage, and smart energy solutions. The office building also features biochar in its green terraces and furniture production from construction waste. Hyllie Terrass is to be certified with LEED Platinum, WELL Gold, and NollCO2.
The office building was completed in 2023 and features 14,000 m2 of total leasable area, of which about 85% is let to tenants including AAK, Air Liquide, Riksbyggen, Skanska, Ahlsell, and Compass Group.
The transaction is conducted at market value and is the fifth with Skanska Investment Properties as counterparty. Skanska already owns the office properties Epic and Aqua in Malmö.
Skanska Investment Properties is a new business stream within Skanska that aims to establish a long-term portfolio of high-quality, climate-smart, and healthy office buildings in Stockholm, Gothenburg, and Malmö.