Fabege has divested the Päronet 8 property in Solna Strand. The purchaser is Hamburg-based real estate investment company Union Investment, who acquired the building for one of its institutional property funds. The purchase consideration is SEK 555m. The approximately 21,600 sqm building comprises office area. The purchaser will take possession on 30 July 2010.

The sale will generate an after-tax gain of SEK 50m, which will be recognised in profit during the second quarter of 2010.

“The sale is following Fabege´s business model, the property is fully developed and is an attractive investment property with good tenant, and therefore a good investment for institutional investors, ”says Christian Hermelin, CEO of Fabege.

Fabege AB (publ)