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News Release

London

Allianz Sell Office Property in Stockholm CBD


London, 5 December, 2013 – German insurance company Allianz has sold the Stockholm CBD property Jericho 34. Jones Lang LaSalle advised Allianz on this transaction.

The property's rentable area exceeds 21,000 square meters, is fully leased to among others EY which is the largest tenant and consists of offices, shops and residential units. The building is modern, flexible and of a high technical standard.

The buyer is AMF Fastigheter. The acquisition closed on 2 December 2013, with a property value of about SEK 1.6 billion.

Allianz acquired the property in 2005 from Diligentia.

“There was great interest from both domestic and international capital. It is exactly this type of real estate that many institutional investors are interested in - properties with high standard, stable tenants as well as an attractive location in downtown Stockholm," says Daniel Gorosch, Managing Director of Jones Lang LaSalle in Sweden.

 

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg and Kiev. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.
For further information, please visit www.jll.ru