"It feels incredibly exciting that we are continuing to strengthen our presence both on Södermalm and in the neighborhood. Our vision is to create entire urban spaces where people want to be, feel good and are given the opportunity to contribute to the development of the place. By acquiring Tobaksfabriken, we can take a greater hold in the work of developing and strengthening the identity of the place in this dynamic neighborhood even more," says Fredrik Ronvall, Head of Property Investments at AMF Fastigheter.

Tobaksfabriken is located, just like Tobaksmonopolet, at Södra Station on Södermalm. There is a long history of attracting companies in creative professions here, which contributes to the creative atmosphere that the area is known for. A few streets away from Tobaksfabriken is Mariatorget's large selection of bars, restaurants, culture, hotels and shops. Not too far away is also AMF Fastigheter's neighborhoods Fatburen and Stockholmsverken, which are characterized by game development and gaming.

Going forward, the ambition is to further refine the iconic Tobaksfabriken property. The plan is to build a new building along Maria Bangata and create a glazed courtyard that will become a meeting place for the entire area. This, and developing the entrance, aims to improve accessibility and function in the neighborhood.

"We are very much looking forward to developing both the building and the site to give all the life that already exists here even more space. Our strategy is very much about strengthening our presence in selected locations and contributing to long-term value development through vibrant and inclusive urban spaces in clusters. Acquiring Tobaksfabriken feels like the right fit for that work," says Fredrik Ronvall.

CBRE Investment Management acquired Tobaksfabriken from Aberdeen in 2017 for SEK 1 billion (EUR 87 million), now the fund is selling the property for just over SEK 1.5 billion (EUR 131 million).

“The sale of Tobaksfabriken marks an important step for us and is the result of strategic work to maximize value for our investors. "We are convinced that AMF Fastigheter, with its solid experience in urban development and sustainability focus, is the right player to take the property to the next level and continue to develop its unique potential," says Jenny Tuleby, Nordic Head at CBRE IM, to Nordic Property News.

PWC, JLL and Gernandt & Danielsson were sales advisors in the deal.