STOCKHOLM, LONDON, January 27, 2014 – Advised by Colliers International, Trygg-Hansa Insurance has sold their 40, 000 sqm Stockholm HQ to the Areim II Fund for an undisclosed sum.
Robert Treutiger, Partner and Head of Investment at Colliers International AB said: ”This was a fascinating transaction to be involved with for two reasons. Firstly, it is a very interesting property to work on; and secondly because we had a very tight schedule to take into consideration. It was also good to see the bank’s positive attitude to financing, which demonstrates the strengthening of the market; and the increased desire from occupiers to source funding opportunities.”
“We experienced considerable interest during the sales process from local players; however international interest in the asset wasn’t as strong as we expected. This could have been because of the short contract periods involved. International investors tend to be more concerned with unlocking long term investments; rather than at a property’s short term potential and its location.”
Trygg-Hansa (part of the RSA Group, the world’s leading insurance company) conducted the sales process as a sale-and-leaseback in order to focus on their core business and allow them to continue to occupy the building. Areim will take over the planning and development an additional 7,500 sqm new construction, which is under construction.