Setterwalls advised KPA Pension in acquiring an office project from NCC for approx. EUR 360 million

KPA Pension, part of the Folksam Insurance Group, is acquiring the office project Yrket 4 in Solna outside Stockholm from NCC. NCC will develop the property into a new headquarters for the Swedish National Grid (Svenska Kraftnät), which has signed a 20-year lease for the entire property. The property encompasses approximately 52,000 gross floor area (GFA) and is situated in the attractive Solna Business Park. The transaction is being conducted as a sale of shares in a property company with an underlying property value of approx. EUR 360 million (SEK 3.6 billion).

The payment of the purchase price and the transfer of ownership will occur upon the project’s completion, which is expected in the second quarter of 2028. The transaction is contingent upon building permits, the tenant moving into the premises, notification under the Swedish FDI regulations, and the tenant’s approval of KPA Pension as the buyer.