The previously announced divestment of the project property 28&7 in Manhattan, New York, to Capstone Equities has been completed, and the property was transferred on November 18, 2025. The transaction was carried out at an underlying property value corresponding to approximately SEK 770 million based on the current exchange rate.

The property is a modern 12-story office building located on the corner of 7th Avenue and 28th Street in Chelsea, Manhattan. The building was developed by Corem and reached full occupancy during the first quarter of 2025. The leasable area totals approximately 9,300 square meters, primarily consisting of office space with restaurant units on the ground floor. Tenants include, among others, also Nordic elements in the form of Joe & the Juice and Epidemic Sound. The building is certified LEED Gold.

"The sale of 28&7 was announced at the end of the second quarter, and we are now pleased to confirm that the transaction has been completed. We congratulate our buyer on acquiring a fantastic, high-quality property. As we are now refining Corem, a reduction in the U.S. portfolio is a strategic long-term choice, allowing us to concentrate on our core market with strong cities within the Swedish real estate sector," says Rutger Arnhult, CEO of Corem.

Corem Property Group AB (publ)

For further information, please contact

Rutger Arnhult, CEO, +46 70 458 24 70, [email protected]
Emelie Mörndal, Head of US operations, +46 10 482 70 38, [email protected]
 

Corem Property Group AB (publ)
Box 56085, SE-102 17 Stockholm
Visit: Riddargatan 13 C
Corp ID no: 556463-9440

www.corem.se

This press release has been published in Swedish and English. In the event of any discrepancy between the language versions, the Swedish language version shall prevail.