Sweden-based commercial real estate company Corem Property Group has signed an agreement to divest a portfolio of 47 properties to a funds managed by an affiliate of US-based alternative asset manager Blackstone Group.
The portfolio is situated in Gothenburg, Jönköping, Malmö, Stockholm and Västerås and is worth approximately SEK 5.35 billion (app.€490m).
The total lettable area amounts to around 357,000 square meters which are mainly premises for warehouse and logistics. The economic occupancy rate is 94 per cent.
Transfer of possession will be made in two stages, the first in the middle of February 2023 regarding seven properties and the second in the middle of April 2023 regarding 40 properties. The agreement is conditional on the approval from the Swedish Competition Authority.