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. Stockholm’s CBD has undergone significant development over recent years and Scandinavia as a whole is experiencing good economic performance.

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 it is completed in the autumn of 2010, Stockholm Waterfront will offer first class conference facilities for 3,000 visitors together with a business hotel providing 418 high quality rooms. Rezidor has signed a 20-year lease for the entire hospitality complex.

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