Genesta Acquires Inner City Office Property In Stockholm, Svea Artilleri 10 & 11
Genesta has entered into a sale and purchase agreement to acquire the office properties Svea Artilleri 10 & 11 totaling 12,800 sqm on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) from AFA Fastigheter.
“The properties’ possibilities and location suits our investment strategy perfectly. Svea Artilleri is a good addition to our ever-growing portfolio of centrally located office properties across the Nordic capitals. During our ownership we will re-brand and upgrade the property to make sure it meets the high expectations of today’s tenants. This is GNRE Fund II’s tenth acquisition and we will continue to acquire value add properties throughout the Nordics”, comments Genesta’s CEO David Neil.
The properties are strategically located close to the metro and with easy access to the E20 motorway. The main tenants are Universitetskanslersämbetet and Thoren Innovation School.
“We have owned the properties for a long time and are now handing over the future development to Genesta”, says AFA Fastigheter’s CEO Anna Berfenstam.
Roschier acted as Genesta’s legal advisor during the transaction.
GNRE Fund II
GNRE Fund II’s strategy is to provide institutional investors with access to value add office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region. The fund has EUR 373 million of committed capital from twelve institutional investors.