International real estate advisor Savills has acquired Stockholm-based property management firm Stadsmuren, providing a new service offering for its clients in Sweden and adding to its European property management network.

Stadsmuren was established in 1993 and manages 300,000 m2 of commercial properties and 4,000 apartments in and around Stockholm. Founded by directors Lars Backman and Thomas Pettersson, who will continue to lead the team, the 30-strong department will move to Savills' Stockholm offices. They will continue to service clients including Vasakronan, AFA, IF Metall, Svensk Handel and City of Stockholm whilst forming a close link with Savills pan-European property management network, who collectively manage over 11 million m2 of property.

In addition to Stadsmuren, Savills will acquire a majority shareholding in Loudden Bygg-och Fastighetsservice AB, the technical operations provider and construction expert for Stadsmuren clients. Loudden Bygg-och Fastighetsservice AB was founded in 1995 and has 24 employees.

Ulf Nilsson, CEO Savills Sweden, said: 'Sweden is back on the map with a 95% increase in investment turnover and 135% rise in foreign investor activity in the past year. Our new team will assist these existing and new landlords with a leading property management service. We look to further expand our business by adding a leasing team in the near future.'



Lars Backman says: “We believe that Savills platform will add even more value and competence to our client service. In joining its pan European network we will benefit from additional resources and a broad level of expertise.”