{"id":1004206797,"date":"2018-02-13T06:37:15","date_gmt":"2018-02-13T14:37:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004206797"},"modified":"2022-12-08T07:24:04","modified_gmt":"2022-12-08T15:24:04","slug":"skanska-sells-hotel-development-for-53m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/skanska-sells-hotel-development-for-53m\/","title":{"rendered":"Skanska Sells Hotel Development for $53M"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004206799\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004206799\" data-attachment-id=\"1004206799\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/skanska-sells-hotel-development-for-53m\/rendering-of-gradienten\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Rendering of Gradienten, J\u00f6nk\u00f6ping, Sweden\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of Gradienten, J\u00f6nk\u00f6ping, Sweden&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg?w=400\" class=\"wp-image-1004206799 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg\" alt=\"Rendering of Gradienten, J\u00f6nk\u00f6ping, Sweden\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Rendering-of-Gradienten.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004206799\" class=\"wp-caption-text\">Rendering of Gradienten, J\u00f6nk\u00f6ping, Sweden. Courtesy of Enter Arkitektur<\/p><\/div>\n<p>Skanska has disposed of its hotel project Gradienten in\u00a0J\u00f6nk\u00f6ping, Sweden, for SEK 430M, or around $53 million. Developed by Skanska Sweden, the firm sold the development to Balder. The asset transfer will take place upon completion of the project, scheduled for the first quarter of 2021.\u00a0<\/p>\n<p>The hotel will feature 18 stories and 229 keys. Totaling 132,396 square feet, the property will also offer conference space and a restaurant. The construction contract is worth SEK 330M, or around $40.7 million. The zoning plan and building permit for the hotel is in place and construction is set to begin in the first quarter of 2018. Recently, Nordic Choice Hotels signed a 20-year leased for the operation of the hotel after\u00a0the building is completed. Skanska partnered with them\u00a0last year on the firm&#8217;s development of a 503-key <a href=\"https:\/\/www.commercialsearch.com\/news\/skanska-unveils-84m-hotel-in-stockholm\/\">hotel adjacent to the Arlanda Airport<\/a> in Stockholm, Sweden.\u00a0<\/p>\n<p>The transaction will be booked in the Commercial Property Development stream and the construction contract will be included in the order bookings for Skanska Sweden in the first quarter of 2018.\u00a0<\/p>\n<p><em>Rendering courtesy of Skanska\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transfer of the 229-key, 18-story asset to Balder will take place upon completion of the project, scheduled for the first quarter of 2021. <\/p>\n","protected":false},"author":746,"featured_media":1004206799,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21751,16,21742],"tags":[39100,36581,32886],"class_list":["post-1004206797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-hotel","category-international","category-latest","tag-balder-ab","tag-nordic-choice-hotels","tag-skanska"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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