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Atrium taps new Swedish municipality with office asset acquisition

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Atrium taps new Swedish municipality with office asset acquisition

acquired an office property in Sundbyberg in Stockholm at an underlyingproperty value of 1.06 billion Swedish kronor.

It marksthe company's maiden acquisition in the municipality, which is expected toundergo a development boom.

Areimsold Eken 6, a three-building complex spanning 28,500 square meters. Of this,25,500 square meters is office space. The property also offers 685 parkingspaces. It has a 93.5% occupancy rate, and the rental value comes to 68 millionkronor.

Theproperty offers potential for "good" rental growth and total yield,Micael Averborg, the company's business area director, transaction andestablishment, said in a news release.

Eken6 houses 20 tenants. The largest tenants are ST1 Energy AB, Aditro SharedServices, unemployment insurance fund Alfa-kassan, the Swedish EnforcementAuthority, Friskis & Svettis and Opus Capita. The weighted remaining leaseterm is roughly four years.

Atriumwill take possession of the property on Sept. 15.

As of July 8, US$1 wasequivalent to 8.61 Swedish kronor.