Heimstaden acquires first property in Germany

Heimstaden has today signed an agreement to buy its first property in Berlin, Germany.  

The acquisition comes after a period of market study and analysis of potential objects for sale. The property is located in the district of Berlin-Spandau, close to Spandau city centre, in the west of Berlin in a typical residential area. The property benefits from good connections to both motorway network and public transport links.

The property comprises 27 831 m2 split over 10 buildings with 484 flats and 50 parking places. Purchase price amounts to m€ 66. The property is sold by a Berlin based family office and the transaction is executed as an asset deal. Closing is planned during autumn.

”We are happy to have made our first entry into Germany and feel confident that the acquisition in Berlin will prove to be a profitable one. Property prices in Berlin experience a steady growth from fairly low levels which together with a stable rental market with low vacancy rates forms a good basis for a profitable investment”, states Magnus Nordholm, deputy CEO of Heimstaden.

Skjerven Group has acted as the advisors of Heimstaden in this transaction. Bottermann Khorrami LLP has acted as legal advisor of Heimstaden in this transaction. The selling family office was represented by GÖRG Partnerschaft von Rechtsanwälten mbB as legal advisor. Jones Lang LaSalle SE acted as a broker on the transaction.

For further information, please contact:

Patrik Hall, CEO                               +46 705 85 99 56       patrik.hall@heimstaden.com

Magnus Nordholm, Deputy CEO      +46 705 29 31 44      magnus.nordholm@heimstaden.com 

This is information of the type that Heimstaden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was issued, by the contact persons above, for publication on July 13, 2018 at 08:00 CET.

Heimstaden AB (publ)

Östra Promenaden 7 A, 211 28 Malmö,

Organisationsnummer 556670-0455, Bolagets säte Malmö,

Telefon, växel 0770 – 111 050, www.heimstaden.com,

Heimstaden is one of the leading residential real estate companies in the Nordic region. The Group owns, develops and manages homes in Sweden, Norway and Denmark. Heimstaden has about 31,600 apartments and a real estate value of approximately SEK 54.8 billion. Heimstaden has a preference share listing on Nasdaq First North Premier with the short name HEIM PREF and 2 bonds at Nasdaq Stockholm. The head office is located in Malmö. Certifed Adviser is Erik Penser Bank, +46 8 463 83 00.

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