Colliers advisor to DNB Liv when divesting Hotel C in Stockholm CBD to DNB Scandinavian Property Fund. The approximately 14,200 sqm hotel property is leased to Nordic Hotels AB, which is part of the Nordic Choice Hotels group. Hotel C consists of 367 hotel rooms, bar and restaurant, conference department and a completely unique "Ice-bar".
DNB Scandinavian Property Fund has been looking for good hotel investments, and director Catrine Gjedebo is very pleased to have secured one of the best hotel locations in Stockholm.
"Pennfäktaren 10 will be a good supplement to the portfolio in the fund, both geographically and segment-wise. The property's unique location and the development in this part of the Stockholm CBD make us confident that this will be a good investment for DNB Scandinavian Property Fund", says Gjedebo.
Hotel C Stockholm is centrally located in Stockholm, in Pennfäktaren 1, close to Arlanda Expressen and T-Centralen in Stockholm. The area around Central Station is expected to undergo significant development over the next 10 years.
Gjedebo says: "This is a property that has delivered very positive results historically, and we expect that in the future as well."
DNB Liv is reducing its weight in property and has now sold three neighboring properties in this quarter.
"This sale is part of a careful divestment of DNB Liv's property portfolio. Market exposure of the properties has led to good interest and this shows that DNB Liv has an attractive and valuable property portfolio", says Anette Hjertø, Director of Investments at DNB Liv.
All three properties were sold through an open market process.
Gjedebo says "Pennfäktaren 10 was a good fit in DNB SPF's portfolio, as it provides increased diversification in the portfolio both with regard to geography and segment. DNB SPF therefore participated in the bidding competition, and has had a separate investment team that has handled the purchase process".
The transaction is carried out by selling 100 per cent of the shares in the company Pennfäktaren 10 AB and takeover was on 10 January.
Colliers has been the seller's adviser. Cederquist has been the legal advisers for DNB Liv and Mannheimer Swartling for DNB Scandinavian Property Fund.