Transactions - JUNE 12, 2014

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Steen & Strom sells five Swedish shopping centers for $486m

by Andrea Waitrovich

Steen & Strøm has sold five shopping centers in Sweden for €359 million ($486 million) to a subsidiary of Olav Thon Eiendomsselskap ASA, which is part of the Olav Thon Group. The transaction, which is the third-largest property transaction in Sweden so far this year, will be completed in July.

The largest priced retail assets are the 384,415-square-foot Sollentuna Centrum, selling for €123.7 million ($167.6 million), and the 421,109-square-foot Mirium Galleria, selling for €105 million ($142.3 million). The other three retail properties were the 178,725-sqquare-foot Etage, the 169,738-square-foot Familia and the 172,332-square-foot Mitt i City.

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