CapMan Nordic Real Estate III Fund has acquired a modern office property in Haggvik, north of central Stockholm from Centria. The 12,000m² property developed in 2002 is currently fully leased to three tenants. Once leases expire CapMan plans to lease out space to multiple tenants and diversify the income risk in the property. In addition, the property will be environmentally certified according to BREEAM In-Use.
Haggvik, situated next to the E4 motorway, is currently under strong development and will be transformed from a retail area into a lively urban district with new commercial space and some 5,000 new apartments to be completed in the next 10 years. The area will further gain attractiveness and accessibility from the development of Stockholm Bypass, the Tram extension and a new commuter train entrance located 200 meters from the property. The purchase price was not disclosed.
“This property is a great addition to our growing third value-add fund. Following the development of the area and improved accessibility, combined with our active management to further modernize and upgrade the office space, the attractiveness of the space will further increase and provide a great establishment opportunity for a wide selection of tenants”, said Magnus Berglund, Investment Director at CapMan Real Estate.