- EQT Exeter to sell modern education property in central
Stockholm to Alecta Fastigheter, the real estate company of the Swedish pension fund manager Alecta
- EQT Exeter has transformed the asset from an obsolete 50 percent vacant Grade C mixed-use building into a sustainable Grade A educational-use property that will host four upper secondary schools for 2,200 students in an attractive and densely populated neighborhood
- The property will meet the standards for BREEAM In-Use "Very Good" with a high emphasis on sustainable and environmentally friendly building techniques such as recycling of construction materials, energy efficiency improvements and upgrades to the building fabric to improve thermal performance
EQT Exeter is pleased to announce that EQT Real Estate Fund I ("EQT Exeter") has agreed to sell Hönsfodret 1 (the "Property" or "Southside") to Alecta Fastigheter, the real estate company fully owned by Alecta, one of
EQT Exeter acquired the Property in
In collaboration with
Under its tenure, EQT Exeter obtained a building permit to expand the Property from approximately 9,500 sqm NLA (Net Lettable Area) to more than 14,000 sqm by exercising the unutilized building rights. EQT Exeter has also undertaken actions to meet the industry standard BREEAM In-Use "Very Good" in the final detailed design. Throughout the development process, EQT Exeter has prioritized environmentally friendly building techniques and incorporated multiple key sustainability features as part of the process of securing key constituent consent. These efforts include recycling of construction materials, efficiency improvements via real-time energy usage monitoring and upgrades to the building fabric to improve its thermal performance.
Campus Södermalm will promote a healthy lifestyle with prominence of the stairwells over elevators, a gym and conversion of former car parking to a generous amount of bicycle parking spaces to encourage students to choose active means of transportation to and from school. Moreover, the adjacent local community will be able to enjoy a publicly accessible, student-operated café, bakery and restaurant on the ground floor of the Property. EQT Exeter and its building contractor Zengun are currently in the final stages of completing the development which is expected to take place during Q2 2022, ahead of the academic year 2022/23.
Henrik Orrbeck, Partner within EQT Exeter's Advisory Team, said, "We are proud to hand over the Property to Alecta after a successful transformation project where we have turned a half-vacant building with poor energy performance into a flagship "green" campus that meets modern demands for attractive and inspiring education premises. This transaction perfectly exemplifies the investment philosophy of EQT's real estate platform, EQT Exeter, using our value-creation toolbox to deliver a core building into the highly sought-after institutional real estate market of
The transaction is expected to close in Q3 2022. EQT Exeter was advised by AG Advokat (Legal),
Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT
EQT is a purpose-driven global investment organization with more than
More info: www.eqtgroup.com
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About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in
The EQT Exeter Team comprises 330experienced professionals operating in close to 40 regional offices around the globe. Collectively, they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 600 industry advisors across the globe as well as the EQT's industry-leading sustainability credentials and framework, and in-house digitalization skills.
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