IBM Sverige AB has agreed to divest its office in Kista, Sweden, to the real property holding and development companies Areim and Skanska. The divestment is pending Stockholm municipality’s approval of a land appointment agreement and adoption of a new zoning plan for the area. The property and land formerly housed IBM’s headquarters in Sweden and will be developed into a new residential district comprising approximately 2,000 apartments, including student housing.

IBM was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Klas Wennström, assisted by Olle Källström and Josefin Ohlson.