Magnolia Bostad carries out two hotel transactions in Halmstad and Lund

Magnolia Bostad sells two hotel projects to Alecta. The sales comprises of approximately 500 rooms and the property value at completion is estimated to a total of approximately SEK 700 million. Contractor for both projects is Serneke.

The sale in Halmstad relates to the property Halmstad Kilot 2 the sale is made through company transfers. The project comprises of approximately 240 rooms and the property value at completion is estimated to approximately SEK 355 million. Hotel Operator is Ligula Hospitality Group AB under the brand ProfilHotels.

The hotel will become a landmark directly adjacent to the new travel center in central Halmstad and will contribute to the creation of a small square adjacent to the hotel. New housing projects are also under construction and will be developed in the immediate area.

The project is designed by Krook & Tjäder and will consist of a hotel building, with a restaurant and bar, as well as high section with lounge area and a roof terrace.

Construction start is planned for the second quarter of 2018. Magnolia Bostad will develop and manage the project all the way through, until the hotel is ready for occupancy, which is expected to take place in the second quarter of 2020.

The sale in Lund relates to the property Lund Morgonen 1 and the sale is made through company transfers. The project comprises of approximately 260 rooms and the property value at completion is estimated to approximately SEK 345 million. Hotel Operator is Ligula Hospitality Group AB under the brand Motel L.

The property is located in the northeastern part of Lund in the new district of Brunnshög with direct proximity to the ESS research facility and the world's strongest electron microscope MAX IV. Furthermore, E22 as well as Lund's upcoming tramway can be found next to the property. The district will include a varied range of homes, offices and services.

The project is designed by White Arkitekter together with Krook & Tjäder and will consist of a hotel building with generous lounge areas, high section and a skybar.

Construction start is planned for the second quarter of 2018. Magnolia Bostad will develop and manage the project all the way through, until the hotel is ready for occupancy, which is expected to take place in the second quarter of 2020.

We are very pleased to be able to carry out these two hotel transactions, it is another important step for us to become a complete scommunity developer. We see a number of possible hotel transactions in the future, hoping to establish ourselves as a significant developer of hotel properties, says Fredrik Lidjan, CEO Magnolia Bostad.

For more information, please contact:
Stefan Berg, Head of Business Development
+46 737 08 82 19,
stefan.berg@magnoliabostad.se 

Clas Hjorth, Manager Business Area Development Hotel
+46 703 24 34 14,
clas.hjorth@magnoliabostad.se 

Magnolia Bostad develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing, hotels and student housing, in attractive locations in Sweden’s growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North Premier. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se

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About Us

Magnolia Bostad AB, CIN 556797-7078 develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing, hotels and student housing, in attractive locations in Sweden's growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.se

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