Sten Mortstedt, founder and executive director at real estate investor CLS Holdings, died today at the age of 80.
Mortstedt set up the FTSE 250 company in 1987 after more than 25 years in the real estate industry, first at Svenska Handelsbanken in Stockholm and then at Citadellet, the family property company. CLS was floated on the London Stock Exchange in 1994 and today has a portfolio valued at some £2.1bn across the UK, France and Germany. Mortstedt chaired the company from its inception until 2016.
His daughter, Anna Seeley – non-executive vice chair of CLS and a board member of the Sten Mortstedt Family and Charity Trust, which owns 51.46% of the company – said: “This is truly a sad day for our family and we will miss him dearly. My father was an inspirational man whose legacy will live on through the businesses he created, and the charities he supported. The trust will continue to support CLS, which it believes has a strong leadership team in place to deliver significant long-term value for CLS’s shareholders.”
Lennart Sten, the company’s chairman, described Mortstedt as “a remarkable businessman and friend”, adding: “He will be deeply missed by everyone at CLS and our thoughts are with his family.”
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
