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Sign in Sign up for a FREE subscriptionBlackstone acquires Swedish portfolio from Corem for €490m
Corem Property Group has signed an agreement to divest a portfolio of 47 properties from a subsidiary to an entity owned by funds advised by an affiliate of The Blackstone Group International Partners, for €490 million ($520 million).
The portfolio consists of properties situated in Gothenburg, Jönköping, Malmö, Stockholm and Västerås. The total lettable area totals 357,000 square meters (3.8 million square feet). The occupancy rate is 94 percent.
The agreement is conditional on the approval from the Swedish Competition Authority.
