May 6th 2015, 04:27
Genesta has divested Hornafjord 1, a 23,000 square meter office building situated in Kista, on behalf of its managed fund GNBRE.
Kista Cushman Wakefield
The property was acquired in December 2007 and had a vacancy rate of more than 80%. Genesta has completely repositioned the property in the market place including substantial renovations, leasing and sustainability activities. At the time of the transaction, the vacancy rate had decreased to approximately 10%.
The property was sold to Kungsleden AB for SEK 514 million. Cushman Wakefield acted as financial advisors and Kilpatrick Townsend as legal advisors to Genesta in the transaction.
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