14 Feb 2013

Pfizer advised on acquisition of headquarters in Sweden

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International law firm Stephenson Harwood LLP has advised Tristan Capital Partners on a joint venture between CCP III, a fund advised by Tristan Capital, and CapMan Real Estate to purchase the Pfizer AB headquarters in Stockholm, Sweden. The sale and leaseback was valued at SEK 166 million.

The building containing the headquarters measures 16,000 sq ft and is located near Stockholm's central business district and Arlanda airport. Besides Pfizer, the building is also home to BMW and has 3,000 sqm of available office space. CapMan Real Estate will manage the property for the joint venture.

Cameron Spry, Head of Investments at Tristan Capital Partners, said: “This acquisition represents an opportunity for our Curzon Capital Partners III core plus fund to acquire a high quality property with vacancy and to take advantage of a strong economy and leasing market where an active asset management strategy can add value through the presence on the ground of our local partner CapMan,”

Jonathon Wilkes, head of real estate at law firm Stephenson Harwood LLP advised Tristan Capital, assisted by corporate partner Andrew Edge and associates Matthew Bowles and Becky Vernon.

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