{"id":1004293481,"date":"2019-01-22T05:00:01","date_gmt":"2019-01-22T13:00:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004293481"},"modified":"2019-01-22T06:54:27","modified_gmt":"2019-01-22T14:54:27","slug":"castellum-buys-sells-550m-in-swedish-office-assets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/castellum-buys-sells-550m-in-swedish-office-assets\/","title":{"rendered":"Castellum Buys, Sells $550M in Swedish Office Assets"},"content":{"rendered":"
\"\"<\/a>

Henrik Saxborn, CEO, Castellum<\/p><\/div>\n

Castellum has closed a 2.4 million-square-foot deal with Fastighetsaktiebolaget Lilium, marking a major step in the Sweden-based real estate company\u2019s portfolio transformation. Castellum will acquire six office properties from Lilium, also based in Sweden, and sell 20 others to the company in two transactions totaling approximately $550 million (SEK 4.9 billion).<\/p>\n

“This deal signifies that we’re concentrating our portfolio to stronger growth sectors and areas,\u201d<\/em> Henrik Saxborn, CEO of Castellum, said in a prepared statement.<\/p>\n

Castellum paid roughly $181.8 million for the six-property, 721,200-squre-foot portfolio located in Link\u00f6ping, the seventh-largest city in Sweden. The group of office assets is 98 percent leased and encompasses Amasonen 3, Ambrosia 6, Blandaren 18, Dalkullan 19, Dj\u00e4knen 7 and Duvan 18. “Link\u00f6ping is an attractive regional city where we’d like to grow and develop our product offers. This transaction makes us one of the two largest players in town, and moreover, the deal provides building-rights possibilities in the city,\u201d<\/em> Saxborn added.<\/p>\n

In Sundsvall, Castellum completed the disposition of 20 assets totaling 1.7 million square feet. Ambrosia 6 and Dj\u00e4knen 7 were among the properties sold to Lilium in a deal that yielded $368.6 million in proceeds. The portfolio is 94 percent leased.<\/p>\n

Large and growing larger<\/strong><\/h2>\n

Castellum holds the distinction of owning the largest listed office portfolio in Sweden, as well as one of the largest logistics portfolios in the country. According to Saxborn, the company, keeping in line with its long-term strategy, will \u201ccontinue to grow and enhance the quality and density of our portfolio through projects as well as acquisitions.\u201d<\/em><\/p>\n

Current projects on Castellum\u2019s to-do list in Sweden include the $37.6 million conversion of Sabbatsberg 24<\/a>, a 123,784-square-foot building in central Stockholm, into a modern office destination. Additionally, Castellum, which is a leading proponent of sustainability, will soon deliver the 103,000-square-foot Eminent, a $41 million property<\/a> that will be the first WELL-Certified office building in the Hyllie district of Malm\u00f6.<\/p>\n

Images courtesy of Castellum<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The real estate company continues to refocus its portfolio on growth areas, with the purchase of six properties in Link\u00f6ping and the disposition of 20 others in Sundsvall. <\/p>\n","protected":false},"author":969,"featured_media":1004293583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,16,21783,21793,21742,21747],"tags":[36486,36487,34432],"class_list":["post-1004293481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-international","category-investment","category-multimedia","category-latest","category-office","tag-castellum","tag-henrik-saxborn","tag-well-certification"],"acf":[],"yoast_head":"\nCastellum Buys, Sells $550M in Swedish Office Assets - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/castellum-buys-sells-550m-in-swedish-office-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Castellum Buys, Sells $550M in Swedish Office Assets\" \/>\n<meta property=\"og:description\" content=\"The real estate company continues to refocus its portfolio on growth areas, with the purchase of six properties in Link\u00f6ping and the disposition of 20 others in Sundsvall.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/castellum-buys-sells-550m-in-swedish-office-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-22T13:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-01-22T14:54:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/39871607633_0bf94d9257_o.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"717\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Castellum Buys, Sells $550M in Swedish Office Assets\",\"datePublished\":\"2019-01-22T13:00:01+00:00\",\"dateModified\":\"2019-01-22T14:54:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/\"},\"wordCount\":329,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/01\\\/39871607633_0bf94d9257_o.jpg\",\"keywords\":[\"Castellum\",\"Henrik Saxborn\",\"WELL Certification\"],\"articleSection\":[\"Deals\",\"Featured\",\"International\",\"Investment\",\"Multimedia\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/castellum-buys-sells-550m-in-swedish-office-assets\\\/\",\"name\":\"Castellum Buys, Sells $550M in Swedish Office Assets - 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