Pandox AB (publ) has acquired and gained access to Best Western Hotel Fridhemsplan in central Stockholm, Sweden. The hotel property has 221 rooms and is operated under a fixed lease with a private operator. The total acquisition price, including a larger investment programme, amounts to approximately MSEK 400 with an expected stabilized yield of approximately 7%.

During 2023 the hotel will be operated under a fixed lease with the current operator, after which it will be renovated and reopened during the second quarter 2024 with a new concept. A new lease agreement with a new operator will then come into force. The hotel will be reported under the business segment Property Management and initially be financed by liquid funds and existing credit facilities.