Sweden-based property management company Diös has agreed to sell its hotel in Borlänge for Skr200m ($19m) to Midstar Hotels.
The property has a lettable area of 14,000m², an annual rental value of $1.24m, and an economic renting rate of 98%.
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The sale of the property is expected to conclude on 1 June 2023.
The sold property comprises a hotel and a few houses. Scandic is the most significant commercial tenant.
Diös transactions manager Annie Franzon said: “We continue to be active on the transactions market and carry out strategic deals that generate opportunities for growth and development.
“We are very happy to sell to Midstar Hotels, a company that is focused on hotel properties, and we extend them a warm welcome to Borlänge.”
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By GlobalDataSweden-based property firm Midstar Hotels, which specialises in hotels, has holdings in Sweden, Norway, and Denmark. The company intends to assume long-term sustainability and profitability for the whole transaction.
Midstar Hotels partner Marc Henriksen said: “Borlänge is an exciting growth city, and our new property fits well in our portfolio. We look forward to continuing to develop the property together with our tenants.”
