GE Real Estate Nordic has bought an office development in Marievik, Stockholm for SEK455m (£34m) from construction company Skanska

In a joint venture with Swedish property company Fastighets AB Balder, GE has bought the Arstaang 4 development. It comprises three buildings which total 366,000 sq ft of office space.

Swede strength

Tenants at the scheme, which is in a growth area between Liljeholmen and Årsta, include Lindorff and Telenor.

Lennart Sten, managing director at GE Real Estate Nordic, said: ‘Erik Selin, chief executive officer of Fastighets AB Balder, is one of the most successful property contractors in recent years and we look forward to working with Balder on future opportunities.

'Today’s acquisition will further strengthen our portfolio in Stockholm, which currently amounts to SEK5.7 bn.’

The deal will complete on Thursday.

GE Real Estate will manage the building on behalf of the joint venture.