Swedish public property company Balder is paying about Skr400m (€45.6m) for a hotel property in Malmo.
Most of the 11,000 m2 building is leased to a five-star hotel operated under the Marriott Renaissance brand.
Some Skr265m of the purchase price will be met by issuing 1m preference shares at SKr265 per share. Private property company Kristiana will sell the shares to Swedbank, which will offer the shares publicly.
Swedbank Corporate Finance was financial advisor to Balder in connection with the transaction.
Balder CEO Erik Selin says deal is in line with the company’s strategy of expanding its commercial portfolio in attractive locations in Stockholm, Gothenburg and the Öresund region.
