Allianz expands core office portfolio with €175m acquisition in Sweden

Allianz Real Estate has expanded its northern European office portfolio with the acquisition of a 30,000sqm asset in the capital of Sweden for around €175m. The asset manager said it has acquired the Gangaren 11 office complex in Stockholm, on behalf of Allianz group companies, from Swedish real estate firm AMF Fastigheter. Gangaren 11, which was built in 2009, is fully let to financial services company Skandia. The asset, the first equity acquisition for the company in the Swedish market for six years, expands Allianz Real Estate’s core office portfolio in Europe and also its exposure to the Swedish market, Allianz said.