Case Study

STOCKHOLM WATERFRONT

Savills Sweden advises on acquisition of major hotel and conference centre in Stockholm’s central business district

Advised by Savills Sweden , the Norwegian insurance company Vital has acquired the prestigious Stockholm Waterfront from a consortium of JARL Asset Management, NIAM and CarVal investors.

A subsidiary of DnB NOR, Vital is seizing the opportunity to invest in a strong asset within a robust business market through a forward funding solution. Stockholm 's CBD has undergone significant development over recent years and Scandinavia as a whole is experiencing good economic performance.

Our service included research of the hotel market in Stockholm , map out of competing hotels and projects, hotel revenue modelling, cash flow analysis, support and input during the production and the negotiations of the SPA. Following the signing of the SPA the transaction closed with Vital Forsikring ASA acquiring 100 % of the SPV company.

Stockholm Waterfront comprises a large hotel and conference centre located in Stockholm 's CBD, close to all facilities and immediately adjacent to the central railway station and the City Hall. When completed, Stockholm Waterfront will offer first class conference facilities for 3,000 visitors together with a business hotel providing 418 high quality rooms as well as an office complex of ca 24.600 sq m. Rezidor has signed a 20-year lease for the entire hospitality complex. The project will be completed during 2010 when Stockholm 's new hotel and conference centre opens.

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