case / 20 Aug 2019
Setterwalls assisted Akademiska Hus in divestment of iconic land mark buildings in Stockholm
Setterwalls has assisted Akademiska Hus, the second largest property group in Sweden, in the divestment of the iconic A house building and Tre Vapen property in central Stockholm
A house was erected during 1968-1970 with an area of 10,400 sq.m. The property was for many years leased by the Swedish Architectural School but has since the vacation of the premises in 2015 been converted into a successful meeting place for companies and entrepreneurs within fashion, food and media. The brutal concrete façade and structure have been much debated and the building has been voted the ugliest building in Stockholm. The Tre Vapen building was erected in 2004 and consists of 11,700 sq.m. The majority of the property is leased by Stockholm University of the Arts. Other tenants are the German-Swedish Chambers of Commerce and IVL Swedish Environmental Institute. Purchaser of both properties is Balder and closing of the transaction will take Place on 1 October 2019.