Nrep buys two Swedish assets for €300m

Sweden-based property company Fabege has signed an agreement with Nordic Real Estate Partners (Nrep), Sweden-based real estate developer, to sell the properties Orgeln 7 in Sundbyberg and Glädjen 12 in Stadshagen in a transaction worth SEK 3.4 billion (€295 million/$330 million).

The properties will be taken over by the buyer in early October.

The two properties are completed, largely fully let and both are located outside Fabege’s priority districts. The company said the sale is part of Fabege’s continued concentration on selected expansive market areas such as Solna and Flemingsberg, where it has several office projects under production. The transaction further strengthens Fabege’s balance sheet and provides scope for continued investment in our urban development projects.

Orgeln 7, which is a freehold property, has a lettable area of 39,200 square meters (421,945 square feet). The property was completely renovated and extended in 2016-2018 and is let