Newsec has signed a contract with Scius Partners, who are functioning as asset manager on behalf of Starwood.

Newsec’s contract covers economical and technical management as contract management and will occupy 30 people. Union negotiations with Sveareal’s employees will be conducted before long. Sveareal’s CEO Claes Malmkvist had his final day in the office this week.

The remainder of the brand Sveareal is currently unknown. “It is not yet decided, we will get back to you on that subject” says Mikael Freudmann at Scius Partners to Nordic Property News.

The Sveareal portfolio encompasses approximately 80 properties with a leasable area of approximately 800,000 sqm located in Mälardalen and Southern Sweden, mainly in the Stockholm area. Starwood acquired Sveareal and Norwegian Fortin Properties from Norwegian DNB at a total of SEK 11,5 billion (€1,23 billion).