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STOCKHOLM-Locally based Kungsleden, a Sweden listed property company, has sold a 201,000-sf office building here for $56 million (SEK 446 million). The new owner is to GE Commercial Finance Real Estate.

The building is Göta Ark 18 in Medborgarplatsen, central Stockholm. It was completed in 1985. The Local Authority of Stockholm is the largest tenant, leasing approximately 28% of the property. Overall occupancy was not immediately available. Kungsleden says the property has a rental value of $5.4 million (SEK 43 million).

Göta Ark is the second centrally located office property that GE has acquired in Stockholm in the past four months. In September, the company acquired a property in the Kungsholmen district previously owned by the engineering consulting company Ångpanne-föreningen for $35.79 million (SEK 285 million).

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