Office property in Stockholm sold for €336M

Office property in Stockholm sold for €336M
Dagens Nyheter Tower Photo:Courtesy of Areim

Areim, a Nordic real estate owner and fund manager with offices in Stockholm, Helsinki and Oslo, has acquired Dagens Nyheter tower or known as the Newspaper Building, a landmark office property in the centrally located neighborhood of Kungsholmen, in Stockholm from Fabege for SEK 3,545 million (€336 million).

The office property, Trängkåren 7, in Stockholm, comprises 56 500 square meters, primarily office space. The building was constructed between 1960 and 1964 from drawings by the architect Paul Hedqvist.

The property is an attractive piece of real estate with a robust and fascinating history. At present, the office space is close to fully leased. The central location and proximity to public transportation, as well as the neighborhood’s mix of offices, housing, and schools, contribute to the property’s potential. Using our knowledge and experience of real estate development in Stockholm, Areim will open up the property to the public and better integrate it with its surroundings.

“The acquisition of Trängkåren 7 offers us a great opportunity to develop not only a piece of property but also to contribute to the development of an entire area. We have a proven track record of developing comparable projects and already own Trängkåren 6 (the SWECO head office) and co-own Lysbomben 5 (National Board of Health and Welfare), two nearby properties. The specific submarket is an established part of central Stockholm where we see great potential going forward”, says Therese Rattik, CEO of Areim.

Closing will take place on the 23rd of January, 2020.