SOLNA, SWEDEN-Sundsvall-based Norrporten has agreed to purchase the 300,000-square-foot Hagaporten 3 office building from Skanska for $150 million. The sale is expected to finish in the fourth quarter.
Skanska built the project for $130 million in October 2008. The office is 97% occupied, mostly by technology consultancy company AF.
Jorgen Lundgren, EVP at Norrporten, said in a statement that the company bought the building because of its modern, flexible and environmental features. “This transaction is a key step in our aim for long-term growth in the capital city,” he said.
In August, Norrporten sold a one-million-square-foot portfolio of mostly office properties in Linkoping, Sundsvall and Lulea to investor Lilium for $211 million. At the time, Lundgren said in a statement that the transaction allows the company to increase investments in Stockholm and in foreign markets, as well as its $300 million development pipeline. The company owns and manages 138 properties throughout Sweden and Germany.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
