Real estate investor Nrep has finalised the purchase of Clarion Hotel Stockholm, one of the Swedish city's largest hotels, from Aspelin Ramm Fastigheter.

Facilitated through Nrep's €3.65bn value-add fund NSF V, the deal marks a significant enhancement of the company's urban property portfolio and its collaboration with the hotel chain Strawberry, which leases the full property.

Clarion Hotel Stockholm offers 532 rooms across 23,700m² of lettable space, featuring amenities such as bars, restaurants, a spa, gym, and meeting and conference rooms.

The acquisition grants Nrep control over more than 1,000 hotel rooms in central Stockholm.

This move is expected to bolster Nrep's presence in the hospitality sector and contribute to the growth of Stockholm's hotel market, which is showing signs of strong recovery post-pandemic.

The hotel's proximity to the emerging Söderstaden area, including Slakthusområdet, Gullmarsplan, and the Globen area's renowned arenas such as Avicii Arena and 3Arena, is anticipated to solidify its long-term guest base.

These venues host some of Sweden's most significant events, drawing over 3.5 million visitors each year.

Currently holding a BREEAM Very Good certification, the property is poised to achieve BREEAM Excellent status with minimal investment.

Nrep Sweden country manager Carl-Adam von Schéele welcomed the acquisition, stating: "It is a well-designed, well-managed and functional property we are acquiring from Aspelin Ramm Fastigheter and it is fully in line with our ambition to acquire high-quality assets with strong operators in important urban locations.

"By combining our high focus on sustainability with improvements in the hotel’s commercial offering, we create values that benefit the guests, Strawberry and Södermalm as a district and destination.”