CBRE Investment Management is acquiring a 16,874 square metres residential asset Sweden’s capital from Sveaviken Bostad.
The global real assets investment manager said it has agreed to buy the new residential asset in Barkarbystaden, Stockholm on behalf of one of its funds.
IPE Real Assets understands that the manager is paying around €73 million to buy the fully-let asset, which includes 350 affordable residential units, 105 garage units and 2,547 square metres commercial area on the ground floor.
Barkarbystaden is one of the largest urban development projects in northern Europe and is expected to be fully completed in 2035. Once developed, the district will hold 14,000 homes, 10,000 workplaces, schools, and commercial and retail space.
Jenny Nygren, Nordics transaction manager at CBRE IM, said: “This was a fantastic opportunity to acquire a grade-A asset in a truly exciting development. Not only this but the development’s emphasis on affordability aligns perfectly with the goals and values of this investment strategy.
Source: realassets.ipe.com on the 19th of June 2023
https://realassets.ipe.com/news/cbre-im-acquires-73m-swedish-residential-asset-from-sveaviken-bostad/10067278.article