In the summer of 2017, Randviken acquired the properties Mercurius 14 and 16 at Stora Torget in Karlstad. Since the acquisition, Randviken has transformed the former mall Valvet, Mercurius 16, into a high street retail property where O’learys moved into remodeled premises during the autumn of 2018.
In the office property, Mercurius 14, in December, Randviken signed a 12-year lease with SBAB. The existing premises will be rebuilt and at the same time a floor plan will be added.
With the sale, Randviken reduces its holding in Karlstad to now include a retail property at Soltorget and a Coop shop on Norrstrand.
The buyer is a syndicate that is structured by Arctic Securities. Randviken will also, after the sale, be part owner of the new company, Tingsvalvet Fastighets AB.
In addition to ownership, Randviken will run the ongoing project with SBAB and manage the properties.
The transaction volume amounts to approximately SEK 700 million and the transaction is carried out in a corporate form.
“We are pleased to have, in a short time since the acquisition, managed to make a change to Valvet and succeeded in attracting SBAB as a long-term tenant, fully in line with our business plan. Randviken will, in addition to traditional management, constantly work on developing and refining our properties. For us, it was important to be a co-owner and continue to manage even though we will not own 100 procent with the deal. So for our tenants it will not mean any changes. The deal gives us a chance to look at new opportunities in the market and continue the investments we want to make in our portfolio," says Tobias Emanuelsson, CEO of Randviken Fastigheter.
“Two modern city properties on long-term leases in Karlstad's best micro location with strong tenants enable a stable return over time with low residual value risk for our investors. We look forward to, together with Randviken, continuing to develop the properties and continue the good cooperation with our tenants," says Daniel Andersson, Head of Real Estate Corporate Finance, Arctic Sweden.
With the sale, Randviken has so far this year conducted business for approximately SEK 1.3 billion.
“We think the market is exciting and this deal is such an example. We look forward to working with the new company and continuing the development of the block that now has a stable base of tenants," says Tobias Emanuelsson.