Europa Capital and NCAP to refurbish Stockholm office building
Europa Capital together with Nordic asset manager NCAP has successfully acquired Brädstapeln 13, a 12,000-square-meter (129,000-square-foot) office building in Stockholm, Sweden, for an undisclosed amount.
The seller was Swedish insurance company Gamla Livförsäkringsaktiebolaget SEB Trygg Liv.
The purchase was made on behalf of Europa Capital’s pan-European value-add fund, Europa Fund V, which invests in existing office, retail, industrial and residential assets that offer potential for capital appreciation through repositioning. The fund completed its first close in 2015 and its final close in 2018 at roughly $800 million. It has a four-year investment period from the initial close date.
“Stockholm is a key market for us due to its favorable market dynamics, including a rapidly rising urban population and a higher GDP growth forecast than the other Nordic countries, making it one of the most attractive cities for investment in Europe,” said Hugo Black,