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15 February 2016 - Stockholm

Swedbank to Move Large Corporates & Institutions Unit to Pembroke Real Estate Property in Central Stockholm

Swedbank locating to central Stockholm after signing 22 year agreement to join…

Swedbank locating to central Stockholm after signing 22 year agreement to join Pembroke Real Estate’s CBD portfolio.

Pembroke Real Estate today announced it has signed a letter of intent for Swedbank, a leading Nordic-Baltic banking group offering retail banking, asset management and financial services, to move its Large Corporates & Institutions (LC&I) unit to Sveavägen 14; a 13,000 sq m office building located on Sveavägen opposite the Hötorget Towers. Set to move in during the first quarter of 2017, Swedbank will remain at Sveavägen 14 for up to 5 years, before locating to Pembroke’s latest development, Hästen 21, where they will be the building’s anchor tenant. Hästen 21 is situated in the intersection between Mäster Samuelsgatan and Regeringsgatan.

Conveniently situated next to major metro station, Sveavägen 14 benefits from eight upper office floors of approximately 1,100 sq m. An ex-headquarter building, it is well suited for larger occupiers and has the added benefit of tenant amenities including a 1,600 sq m restaurant with terrace, gym and changing facilities.

Mark Takeuchi, Managing Director of Asset Management and Development, Pembroke Real Estate said:

We are delighted that Swedbank has chosen a Pembroke Real Estate property in its return to the CBD and feel fortunate that we were able to work with them to find it a long-term solution in our Hästen 21 development. We anticipate this move will be a great benefit to Swedbank and its customers, as it allows Swedbank to evolve its office requirements within the city centre.

Göran Bronner, CFO of Swedbank, said:

We are happy to have closed this agreement with Pembroke and look forward to a long-term relationship and fruitful cooperation.

Hästen 21 is part of a Pembroke development area that also includes Mästerhuset and PK Huset. Together these three buildings will become a new multi-use destination, providing a vibrant place for Stockholmers to live, work, shop and socialize. Later this month, the City Building Council of Stockholm (Stadsbyggnadsnämnden) is expected to approve a start-up memorandum from the City Building Office (Stadsbyggnadskontoret), initiating a detailed development plan process concerning the property. It is expected construction of the new Hästen 21 will begin in 2018 and be finalized during 2020. For more information about the development visit www.hasten21.se

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