Setterwalls has advised the 7th Swedish State Pension Fund in the additional investment in Urban Escape in central Stockholm for approx. EUR 357 million

The Swedish Seventh State Pension Fund (AP7) and the private pension fund AMF entered into a joint ownership of the city block Urban Escape in central Stockholm in May 2023. Urban Escape includes e.g. the Gallerian shopping centre, two hotels and Spotify’s global headquarters. The joint ownership is being further strengthened as AP7 has exercised its option to acquire an additional 16.6 percent of the shares in the property owning company. The acquisition is made at an underlying property value of approx. EUR 357 million. The total market value of Urban Escape amounts to approx. EUR 2.2 billion.