€360 mln goes to Steen & Strøm. Here is Why

Steen & Strøm is a Scandinavian retail and real estate company that owns and operates 52 shopping centers in Norway, Sweden and Denmark.

The Steen & Strøm has agreed to let go of five shopping centers located in Sweden – Etage (Trollhättan, 16,604 m²), Familia (Hyllinge, 15,769 m²), Mirum (Norrköping, 39,122 m²), Sollentuna Centrum (Stockholm, 35,713 m²) and MittiCity (Karlstad 16,010 m²) for the compensation of €360 mlm making it the third largest property transaction in Sweden in 2014 year to date.

The buyer appears to be a subset of Olav Thon Eiendomsselskap ASA, a part of the Olav Thon Group, the Norway’s leadingreal estateholder. This transaction will help Steen & Strøm will improve the economical state of the company, helping it expand its business in Denmark, Norway and Sweden. There are no terms or conditions involved in this real estate sale and it is expected to be finalized in the first days of July.