Blackstone has bought the building which will be Spotify鈥檚 Stockholm headquarters for its European core fund.
The 104-year-old-building, at 6 Barn盲ngen in Stockholm鈥檚 S枚dermalm district, was acquired two years ago by Angelo Gordon and Scius Partners for close to SEK 600 mln (鈧�58.5 mln) and refurbished and expanded to 12,300 m2.
The deal demonstrates Blackstone鈥檚 continuing faith in offices as a core investment sector, despite the questions about future occupation levels raised by the pandemic.
S枚dermalm, a part of central Stockholm increasingly favoured by tech companies, 鈥榠s one of Stockholm鈥檚 most dynamic areas鈥� said Michael Swank, Blackstone senior managing director.
鈥楾his transaction demonstrates our long-term belief in high-quality office properties in Stockholm, where demand for modern and flexible office solutions continues to grow.鈥�
Scius will continue to complete the works and manage the building. Catella and PwC acted for Blackstone and Savills advised Angel Gordon.
