AMF, represented by international real estate advisor Savills, has purchased CityCronan located in the heart of Stockholm’s central business district (CBD) from DEKA Immobilen.

The freehold, prime mixed use building comprises 40,000 sq m (430,570 sq ft) of office (70%), retail (20%) and residential (9%) space.  Nordea, the largest Nordic bank, is the main tenant at the property accounting for 27,000 sq m (290,365 sq ft) of office space.

The sale constitutes the second largest single transaction to date in Stockholm and is also the largest single property deal in the City since 2008. 

Ulf Nilsson, CEO of Savills Sweden, comments: “This is a significant purchase for the Swedish office market and is a reflection of the current aggressive demand from Swedish institutions looking to acquire prime products in strong locations. The property offers great potential and will make a superb new addition to our client’s portfolio.”