Catella exclusive advisor on Slussgården’s acquisition of Snäckan 8 from Skanska
Posted by fidest press agency su mercoledì, 23 novembre 2016
Catella has acted as exclusive advisor to Slussgården for the acquisition of the Snäckan 8 property in central Stockholm, where KPMG was previously headquartered. Catella initiated the deal with current owner Skanska, which enabled a purchase prior to the start of construction. “We are very familiar with Slussgården, and our expertise and strong position in the Swedish property market enabled us to proactively create a deal outside the market. Based on our client’s aim to expand its property exposure, we identified the “KPMG” building as an attractive option. The property was not up for sale, so we contacted Skanska to initiate a dialogue at an early stage,” says Carl Wingmark, the Partner managing the project at Catella. “Catella made it possible for us to identify a property that was not being marketed,” says Jari Lalli, CEO at Slussgården.“Skanska does not normally sell its projects at such an early stage. However, when Catella presented this opportunity we saw a clear logic in being able to complete a deal with a stable counterparty like Slussgården. We look forward to developing a functional office building that will work for a long time,” says Caroline Arehult, CEO at Skanska Fastigheter in Stockholm. Catella has a leading position in property advisory services, and has offices in Stockholm, Gothenburg and Malmö. Within Corporate Finance, Catella offers all types of property-related transactions with a focus on identifying investment opportunities.
The property is centrally located on Tegelbacken in Stockholm, and is very well positioned in terms of communications, right next to the Central Station. The building currently standing on the Snäckan 8 property will be demolished. The project is being specified in the ongoing detailed planning process, and is expected to have a leasable area of approximately 23,500 square meters and the highest LEED environmental classification. Skanska is responsible for implementing the project. The sale will be recorded when construction commences, which is expected to occur during the first quarter of 2018.