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.

Till nyhetsarkiv
26 February, 2018

Large cross-border capital flows

In recent years, international investors have shown an increasing interest for the Nordic property market. Pangea has followed that trend and 43% of our executed transactions have been cross-border since 2010. It is both buy-side and sell-side mandates including large investors such as Starwood, Blackstone, Union, Tristan, CBRE, Round Hill and WP Carey, plus many pan-Nordic investors.

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12 February, 2018

Car Retailer Property portfolio

At the beginning of February, it was announced that Ankarhagen sells a property portfolio to NP3 for SEK 179 million. The properties are located in 18 cities concentrated to the middle of Sweden with a total lettable area of about 24,400 sqm. For NP3, the acquisition means that the company enters a number of new markets.

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30 January, 2018

Karolinska Hospital sold to Niam

Today it was announced that Stockholm County Council (Sw: Stockholms Läns Landsting) sells the former Karolinska University Hospital to Niam. The sales price is SEK 2.3 billion and Niam takes the full risk for the outcome of the zoning process. Pangea Property Partners was sell-side adviser to Stockholm County Council in the transaction, being the largest Nordic transaction so far in 2018.

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29 January, 2018

Acquiring Clarion Hotel Carlscrona

Last week, it was announced that Västerkulla acquires the property Humble 2 in central Karlskrona from Hemfosa. The property has a lettable area of about 3,050 sqm and comprises 82 hotel rooms, conference facilities, restaurant and bar. The tenant is Clarion Collection Hotel Carlscrona on a long lease agreement.

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