Union Investment acquired an office property in Solna, Sweden, from Fabege AB on behalf of the Unilmmo: Europa open-ended real estate fund for roughly €120 million.
The Uarda 6, or U6, property, completed at 2017-end, spans roughly 18,000 square meters, with the majority of the space being let to Siemens. Other tenants include Ambea and H&M, according to a release.
Swedish developer Fabege will be responsible for managing the almost fully occupied seven-story property.
The acquisition marks the Unilmmo: Europa fund's first property purchase in Sweden and German fund manager Union Investment's third buy from Fabege in the Arenastaden office area in Solna.
