The Carlyle Group Makes Major Real Estate Investment in Stockholm

Stockholm, Sweden – The Carlyle Group, the global private equity firm, today announces a major investment in the Swedish property market with the acquisition of 12 buildings in the Stockholm area. Carlyle Europe Real Estate Partners has acquired a portfolio of four properties in the Globen area of central Stockholm along with a modern office building, Startboxen, just north of the city.

The Globen portfolio of properties is located next to the national Globen arena, which, with its unique shape, has become a symbol for Stockholm, housing all major sports and music events. The portfolio comprises 11 buildings erected between 1989 and 2001 including a lettable area of 114,000 m², comprised mainly office space along with a shopping centre, and 1500 garage parking spaces. The area is easily accessed by car and public transport.

Startboxen 3 is a spacious, modern office property located in Frösunda/Järva Krog just northwest of Stockholm, on the way to Arlanda Airport. It occupies a strong location with excellent access by car and commuter train, 7 minutes from Stockholm CBD. With a total lettable area of over 18,000 m², the building is currently fully vacant.

Thomas Lindstrom, Managing Director, The Carlyle Group comments: "Globen and Startboxen represent an exciting investment for Carlyle and fit perfectly with our strategy of investing in properties that can benefit from thoughtful redevelopment. We hope to take advantage of the excellent Globen location and particularly strengthen the retail offering, while adding residential space. Startboxen shows significant development potential through leasing of the vacant space and the building will undergo an extensive refurbishment. We expect these developments to make a major impact in the Swedish real estate market."

The Globen project team consists of architectural firm Tengbom, technical consultants TP Group, retail consultant RSD, property consultants Colliers, legal advisor Linklaters and auditors Deloitte.