12 augusti, 2019

Large office deal in Stockholm CBD

Pangea adviser to Union in the acquisition of HSB’s head office in Kungsholmen

In the beginning of July, it was announced that Union Investment acquires office property Smultronet 9 in central Stockholm in an off-market deal from AFA Fastigheter. The property has a lettable area of about 11,500 sqm and was built in 1939 and extensively upgraded in 2013. The property is fully let with cooperative housing association company HSB leasing some 85 percent of the space as their head office.

Pangea Property Partners initiated the deal and was buy-side adviser to Union throughout the process. In 2017, we advised Union on the acquisition of office property Uggleborg 14, also known as “SthlmHUB”, located nearby.

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