CBRE IM acquires resi asset in new Stockholm city quarter

CBRE Investment Management has acquired a fully let, recently completed residential asset in Barkarbystaden, a new district of Stockholm, Sweden, on behalf of a fund.

The asset totals 16,874 sq m comprising 350 affordable residential units, 105 garage units, and 2,547 sq m commercial area on the ground floor. Its EPC performance is strong and it has solar panels and geothermal heating systems in place.

Stockholm is currently experiencing a scarcity in the supply of apartments for rent which Barkarbystaden is intended to address. The new district will provide a total of 14,000 homes, 10,000 workplaces, schools and commercial and retail space and is expected to be completed in 2035. 

Head of transaction and investment operations for the Nordics at CBRE IM Jenny Tuleby said: “This acquisition supports CBRE IM’s growth ambitions in the Nordics. The stateof-the-art, affordable asset adds to our Nordic footprint as well as strengthens our position as we continue to grow our residential investor and operator platform in EMEA.”

Financial details were not disclosed but the deal is expected to close at the end of June.