Newly launched AREIM Fund 1 buys 47,500 square meters of office space
30 November 2007The recently launched AREIM Fund 1 has made its two initial investments. The first is a new office building with a floor space of approximately 7,500 square meters that is currently under construction by Skanska in the Hammarby Sjöstad area of Stockholm. The other is a 40,000- square meter existing office property in Kista, Stockholm, with Klövern and SEB Trygg Liv as sellers.
Three of the world’s largest institutional capital managers – ABP (Stichting Pensioenfonds ABP), ATP (the Danish Supplementary Pension Fund) and GIC (the Government of Singapore Investment Corporation) – have committed a total of SEK 2.1 billion to AREIM Fund 1. The fund is an eight-year vehicle with an investment horizon of three years and a total investment volume of approximately SEK 7 billion. AREIM Fund 1 is advised by AREIM AB.
“The fund’s investments will be primarily focused on office space in major Swedish cities. Our main strength lies in repositioning and developing office properties; finding new tenants;
and negotiating both new and existing contracts. Against this background, these first two investments are perfectly suited to our strategy,” says Leif Andersson, CEO of AREIM AB. “The new office building in Hammarby Sjöstad will contain attractive offices in an expansive area with good communications. The property in Kista is well-located and we look forward to exciting development for this investment.”
Contact
Name: Peter Kvarfordt
Phone: +46 73 330 72 86
E-mail: peter.kvarfordt[a]areim.se