Union Investment was advised on the transaction by JLL and Linklaters Stockholm.
The new modern warehouses with a total area of 25,000 sqm can accommodate over 30,000 unique product codes.
A study by IOBE presented jointly with TMEDE estimates that more than €52 billion will "fall" on the market in the next three years.
The aim of the municipal authority is to balance the environmental and urban planning balance of the city.
Construction of the scheme has commenced with cores for each block now complete and completion still on track for 2026.
Excavations have been completed over 75% of the total volume of 400,000 m3 of soil and concreting of walls over 45%.
The renovation works will begin in the spring, while the total investment amounts to €1 million.
The project will add 35 rooms to the hotel, 11 more than the original feasibility study allowed, bringing the number of rooms to 184.
The total amount of the investment will reach 20 million euros.
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