11 November 2021
Vattenfall extends lease with Union Investment for 43,000 sq m in Solna, Stockholm ahead of expiry
Global headquarters of state-owned energy provider staying in Arenastaden for a further ten years
Swedish energy company Vattenfall is set to continue occupying the office building at Uarda 5 in Solna, Stockholm, for another ten years. By agreeing an early extension of the existing lease for 42,989 sq m until 31 December 2034, Union Investment has secured the associated long-term rental income for its open-ended real estate fund UniImmo: Deutschland. The property was acquired for the fund in 2016. The Vattenfall headquarters complex consists of four separate blocks ranging from 8 to 13 floors. It is located in the district of Arenastaden, one of the most attractive submarkets outside Stockholm city centre. A regional railway station, several bus routes and a commuter train ensure that Arenastaden is extremely well integrated into the Swedish capital’s public transport system. Upon completion in 2012, the complex received the European Green Building Award.
“We’re delighted that Vattenfall has confirmed its commitment to this location by extending its lease and are pleased to have retained the tenant in our building for many years to come.”
Cathrin Schwartz, Head of Asset Management Europe at Union Investment Real Estate GmbH
Union Investment’s portfolio in the Stockholm metropolitan region comprises a total of five office buildings. Over the last five years, Union Investment has invested around half a billion euros in the real estate markets of the Nordic countries. Further investment in Sweden, Finland and Denmark is planned across the office, residential, hotel, retail and logistics asset classes.
For Union Investment Real Estate GmbH