Genesta's New EUR 700 million Core Plus Fund Acquires Styckjunkaren 3 in Solna, Stockholm

Tuesday 03.07.2018

Genesta acquires the 13,400 sqm multi-let office property Styckjunkaren 3 located in Solna on behalf of its newly established fund GNRE Core Plus from Profi Fastigheter. The acquisition is the second property acquired by GNRE Core Plus. To date the fund has acquired assets with an underlying value in excess of EUR 100 million.

“In a very short period of time we have acquired three high quality properties in Sweden on behalf of our funds and Styckjunkaren 3 is the latest addition to our growing portfolio of properties across the Nordics. We are excited about the property’s quality and location and see a high demand for this kind of office space. We believe there is a great potential for rental growth in the area”, comments Genesta’s CEO David Neil.

Located only two minutes from the Västra Skogen metro station in Solna and with the E4 and E20 motorways just around the corner, the property is easily accessed both by public transport and by car.

Styckjunkaren 3 is the second acquisition on behalf of Genesta’s new fund, GNRE Core Plus, with a total investment capacity of approximately EUR 700 million. The fund had its first closing in June and will invest in office properties in the Nordic capitals as well as logistic and retail assets in established locations throughout the Nordics. GNRE Core Plus will target well-located properties with some opportunity of value creation through hands on asset management.

For further information, please contact:

   David C. Neil
   CEO, Genesta
   +46 8 506 497 14 (direct)
   david.neil@genesta.se

   Henrik Bastman
   Head of Transactions, Genesta
   +46 8 506 497 15 (direct)
   henrik.bastman@genesta.se

 

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