Live stream from the 'Kefren' property auction
Magnus (The Believer)Auctions of commercial properties are not common practice in Sweden. Even rarer are the ones live streamed (?) on the Internet, but tomorrow will be the last day of one of those.
One of the largest deals ever ends up in a bankrupt
In 2006 the Danish property company Keops acquired two Swedish property portfolios from Kungsleden. The transaction was one of the largest ever pure property transactions in Swedish history (159 properties with a lettable area of 830 000 sqm).
The two portfolios together formed Keops IX, which was later renamed to Kefren Properties IX AB (The group's Swedish parent company). Earlier this year Kefren was declared bankrupt and the Properties is now auctioned via the Swedish Enforcement Authority by individual public auctions.
High tech set up
Not only has this been the 'who-is-who' event of the year, but it has also been live streamed on the Internet! The url for today's five hours session is http://www.catellaproperty.se/sv/Kefren10.aspx or go to the Catella's (the broker) page to find the current link.
Furthermore, FastighetsVärlden (the largest paper in the industry) has been live blogging (?) with an update frequency that is only second to Engadget at an Apple keynote.
My thoughts
I'm really impressed by the set up from both the broker (the streaming) and the journalists (live blogging). For sure, both are making great use of the Internet.
