To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionOaktree takes majority share in €570m Gothenburg tower project
Oaktree Capital Management has agreed to buy an 80 percent stake in the SEK 6 billion (€570 million/$630 million) mixed-use Karlatornet, or Karla tower, project in the Lindholmen area of Gothenburg, Sweden.
Serneke will remain as a shareholder in Karlatornet and continue to act as main contractor for the construction of the tallest building in the Nordic region.
The two firms will co-own and jointly develop the building. The project will consist of 95,000 square meters (1.0 million square feet) and more than 600 residential apartments, a 300-key Clarion Choice Hotel, more than 8,000 square meters (86,000 square feet) of office and retail spaces and an observation deck.
