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STOCKHOLM, SWEDEN-KLP Fastigheter purchased a five-star, 86,615-square-foot Rasisson SAS here. The purchase from seller RBS Nordisk is part of the locally-based company’s expansion plans, according to an article in PropertyEU.

“We are very pleased to have acquired this fantastic property,’ KLP’s CEO. Steinar Manengen says. ‘It fits perfectly into the portfolio we want to build in Sweden.”

KLP has plans to grow its Swedish portfolio over the next four to five years. The company already owns six hotels in Norway and one in Sweden. The target portfolio could be worth as much as $909.5 million by the end of the growth period.

The purchase price of this Radisson hotel was not released.

To read the report in PropertyEU click here.

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