4 december, 2017

Nordic cross-border hotel deal  

Pangea adviser to Strawberry Properties in the sale of five hotels to Midstar.

At end of last week, it was announced that Strawberry Properties sells a large Nordic hotel portfolio to Midstar Hotels. The portfolio includes one hotel property in Sweden and four in Norway with 782 rooms in total:

  • Quality Hotel 11 in Gothenburg, Sweden (259 rooms)
  • Clarion Hotel Ernst in Kristiansand, Norway (199 rooms)
  • Clarion Collection Hotel Tollboden in Drammen, Norway (127 rooms)
  • Clarion Collection Hotel With in Tromsø, Norway (76 rooms)
  • Clarion Collection Hotel Aurora in Tromsø, Norway (121 rooms)

The largest hotel in the portfolio is Quality Hotel 11 in Gothenburg located just by the water at Norra Älvstranden. The hotel also includes neighbouring Eriksbergshallen with capacity to host 2,000 conference guests. The Norwegian portfolio includes four well-established hotels in three strong regional cities. The entire portfolio has a lettable area of approximately 60,000 sqm and all hotels are operated by Nordic Choice.

Pangea Property Partners was sell-side adviser to Strawberry Properties in the transaction, being the third largest hotel deal in the Nordics this year. Our hotel team also advised on the largest hotel deal in January when Strawberry Fields/Nordic Choice entered a long-term partnership and established two major hotels at Copenhagen Airport.

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9 July, 2018

Largest deal in Sweden

Starwood Capital Group sells a large Swedish warehouse and logistics portfolio to Hemfosa for approximately SEK 3.6 billion. The portfolio comprises 51 properties totalling about 460,000 sqm with a gross rental income (including supplements) of SEK 318 million. Pangea Property Partners was sell-side adviser to Starwood in the transaction, being the by far largest property transaction in Sweden this year.

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2 July, 2018

Large residential project in Bro

Slättö acquires the first stage of the new residential area Tegelhagen in Bro, in northern Stockholm, from Magnolia Bostad. The project comprises about 650 apartments and the value at completion is estimated to around SEK 1,170 million. Pangea Property Partners was buy-side adviser to Slättö in the transaction.

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18 June, 2018

ALNA senter sold for NOK 2bn

Aspelin Ramm sells ALNA senter to Joh Johannson Eiendom AS for about NOK 2bn (EUR 215m). The large retail centre is located at Alnabru, some 10 minutes from Oslo city, and comprises about 70,000 sqm and 1,100 parking spaces. The centre is the third largest in Oslo with an annual turnover of NOK 2bn (EUR 215m) and nearly 5 million visitors in 2017.

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11 June, 2018

Starwood completes public bid on Victoria Park

Starwood Capital Group (through its wholly owned subsidiary HomeStar InvestCo) has announced that shareholders representing 24.4% of the shares and 32.1% of the votes in Victoria Park have accepted the public cash offer presented in the beginning of April. Pangea Property Partners has been financial and M&A advisor to Starwood in the transaction.

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