CapMan Real Estate sells landmark 'if' office building in Northern Stockholm

CapMan Real Estate        Press release                     3 October 2016 at 07.00 a.m. CEST / 08.00 a.m. EEST

CapMan Real Estate sells landmark 'if' office building in Northern Stockholm

CapMan Nordic Real Estate fund has agreed to sell Bergshamra Bro in Solna, Northern Stockholm, to Solnaberg Property AB (publ), a company established by Catella. The price is SEK 858 million.

Bergshamra Bro is a 31,325 square-meter office building in a highly visible location spanning over and alongside the E18 road in Stockholm. The property consists of four interconnecting office buildings and its main tenant is 'if' P&C insurance.

"We are very happy to have reached our objective of introducing new long term tenants to the property alongside 'if' in order to create full occupancy and a more institutional product. In addition, we are retaining a large piece of land with surface parking on which we are currently working on changing the zoning plan to develop some building rights," comments Ed Williams, Senior Partner at CapMan Real Estate.

"The strong demand from both private and institutional investors and attractive financing received by the buyer Solnaberg Property AB (publ) underlines CapMan's very impressive development of the property into a more core product" says Martin Malhotra, the responsible Project Manager at Catella.

CapMan Nordic Real Estate fund invested in Bergshamra Bro in 2014 and this transaction is the fifth exit of the fund. The focus of the €273 million fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013.

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