Olswang's Real Estate team has completed on a property asset sale for long-standing client Alecta, one of Sweden's largest pension fund managers. Led by Partner Martyn Needham, the deal is one of the biggest UK real estate deals of 2016.

The transaction sees Alecta sell to Goldman Sachs its entire UK portfolio of real estate assets located in and around London, which comprises 26 properties including industrial, office, big box and high street retail units.

Founded in 1917, Alecta is an occupational pension company and is one of the largest owners on the Stockholm Stock Exchange. Managing around SEK 730 billion on behalf of its shareholders, the fund is exiting all of its directly owned real estate assets as it lacked sufficient scale.

Olswang was appointed as Alecta's exclusive UK real estate advisor in 2010, having first been instructed in 2007.

Martyn Needham commented: "We were delighted to get this major transaction across the line for Alecta at the agreed price in just over two weeks. This is a great testimony to the talented team we have here."

Martyn led the Olswang team along with fellow Real Estate Partner Melissa Brett. They were supported by fee-earners Louise Forbes, Jacob Gilkes and Edward Arnold from the Construction, Tax and Employment teams respectively.