A team of seven real estate transactions lawyers has left Linklaters in Stockholm to join Swedish independent Gernandt & Danielsson.

The team is led by former Linklaters partner Magnus Lidman and Anna Eriksson, who has joined the 90-lawyer firm as a partner having been a managing associate at Linklaters. At their former firm the duo led the Swedish real estate transactions team and have made the move alongside a group of five associates. 

The group represents the bulk of Linklaters’ real estate team in Stockholm, which following their departure is left with two managing associates and three associates, according to the firm’s website. Real estate is not a strategic priority for the firm in Stockholm, where it will focus on M&A, private equity and finance.

Manfred Löfvenhaft, Gernandt & Danielsson’s managing partner, said Lidman’s and Eriksson’s niche expertise in real estate transactions would complements the firm’s transaction profile. 

“We are delighted to welcome Magnus and Anna and their team,” he added.  

Lidman’s real estate practice is ranked in Band 1 by Chambers and Partners and he brings significant experience in the market, handling high-value acquisitions and divestments of property portfolios as well as real estate M&A transactions. He retired from Linklaters’ partnership in April after more than 20 years as a partner at the firm, which he joined in 2001 when it merged with Swedish firm Lagerlöf & Leman as part of a wider European expansion effort that also saw it merge with local firms in Belgium, Luxembourg and Germany. 

Eriksson’s commercial real estate transactions practice sees her advise global real estate and PE funds, Nordic institutions and real estate companies on M&A, divestments and joint ventures. She spent eight years at Linklaters, before which she practised at Nordic firm Hannes Snellman. 

Following their arrival Gernandt will have 21 partners overall, including five in its property, infrastrucutre and contracting practice. 

Meantime Linklaters’ real estate team boasts more than 170 lawyers globally and advises on some of the largest transactions in the market, including advising Permodalan Nasional Berhad on the £1.6bn acquisition of the mixed-use Battersea Power Station scheme and Ares on the awarding of two concession agreements for developing 3,000 build-to-rent homes in Madrid. 

A Linklaters’ spokesperson commented: “Magnus made a lasting contribution to the firm and will be missed by all who have worked with him. We thank Magnus for his service and wish him all the best for the future.”

Last November, CMS announced a tie up with top 10 Swedish law firm Wistrand, making CMS the second-largest global 200 firm in Sweden with 146 lawyers, behind DLA Piper, which has 209 lawyers, according to data supplied by Pirical. Just nine global 200 firms have a presence in Sweden; with 32 lawyers, the Linklaters team is the second-smallest of this group.