Union Investment has sold the Sthlm Hub office building in Stockholm to Swedish investor Vasakronan for 715 million SEK (around €62 million).
Sthlm Hub, also known as Uggleborg 14, is in the centre of Stockholm, in a sought-after location.
The property has a rental area of around 5,900 square meters and is currently 86% rented. It has a BREEAM in-use Excellent certification.
Sthlm Hub was built in 1967 and extensively modernized in 2016. It has been part of the portfolio of the open-ended real estate fund UniImmo: Global since 2017.
The purchase price is above the last expert value determined, says Union Investment.
Vasakronan is owned by four Swedish national pension funds and already owns the neighbouring property.
Union Investment was advised on the transaction by JLL and Linklaters Stockholm.
