Folksam Group buys Gothenburg office for €26m

Swedish insurance company The Folksam Group has purchased the Nordstaden 21:1 office property in central Gothenburg from real estate company Vasakronan for SEK 307 mln (€26.6 mln). 

Nordstaden 21:1, Gothenburg

Located at Packhusplatsen 2, the acquisition includes 4,913 m2 of lettable area, the majority of which consists of offices.
Originally constructed in 1901, the building, also known as Hertziahuset, has recently undergone significant renovations and upgrades to both its structure and interiors. The property holds a LEED Gold environmental certification.
The sale is part of Vasakronan's long-term strategy for continuous development and optimisation of the property portfolio. Vasakronan focuses on centrally located office and retail properties in the growth regions of Stockholm, Uppsala, Gothenburg and Malmö. 
Jonas Bjuggren, property director at the Folksam Group, commented: “It feels extra exciting to present a new addition to the portfolio in central Gothenburg. The property is centrally located and well-located in an area where we want to continue growing. It will be integrated into our systematic work to ensure high sustainability performance in order to achieve our climate goals. The Folksam Group's focus on good, high-quality office properties in attractive locations remains firm.”
The Folksam Group manages a total capital of SEK 999 bn (€86.6 bn), of which over SEK 60 bn (€5.2 bn) is allocated to directly owned properties. The group primarily invests in desirable residential and commercial properties located in key Swedish regions like Stockholm, Gothenburg, and Skåne.