Corem has signed an agreement for the sale of the leasehold to the property Orgelpipan 4 at an underlying property value of SEK 570 million, which is in line with book value.

Orgelpipan 4, at Klarabergsgatan 33-35 in Stockholm, has undergone extensive remodelling and modernization both inside and out. The building has a cultural-historical value and has been carefully renovated to preserve and recreate period architectural features and materials, while the premises and technical installations have been modernized. The property is fully let and consists of approximately 4,200 sq.m. of commercial premises. The office part is leased to Sveriges Riksbank and the restaurant AMI has opened on street level.

"We are very pleased to be able to divest this centrally located project property which has been completed and rented out during the year. This deal shows that the demand for well-located offices is still very good," said Peeter Kinnunen, Head of Transactions at Corem.

"We at Folksamgruppen continue our strategic and profitable expansion of the property portfolio through another acquisition in the middle of our core market Stockholm. Our focus on high-quality office properties in attractive locations remains firm. When the right opportunities arise, the Folksamgruppen will further increase its property portfolio," says Marcus Blomberg, Head of Investments at Folksamgruppen.

Transfer of possession is planned for 15 February 2024.