Magnolia Bostad enters into an agreement concerning a project of 275 apartments in Arlöv city centre
Magnolia Bostad signs an agreement with Heimstaden Bostad concerning the sale of the project Fasanen located in central Arlöv, in Burlöv municipality. The deal comprises the construction of approximately 275 rental apartments.
The sale relates to the properties Burlöv Arlöv 20:58 et al and is made through company transfers. Estimated property value upon completion is estimated to amount to approximately 400 MSEK. Magnolia Bostad announced in a press release on September 30, 2017 the sale of this project, subject to certain conditions for the sale which were not met. The project has now been sold to Heimstaden Bostad. This is Magnolia Bostad's second project sales to Heimstaden Bostad, the first being the project Senapsfabriken, Phase 2, which was sold in June 2017.
The project is located in close proximity to Arlöv Centrum and close to Burlöv Center where a wide range of services and commerce are offered. Burlövs municipality, which is the neighboring municipality of Malmö, offers good communications with direct connections with both trains and cars and bicycle into central Malmö.
Serneke is signed as contractor and construction start is planned for the first quarter of 2018. Magnolia Bostad will develop and manage the project all the way through, until the homes are ready for occupancy, which is expected to take place from the third quarter of 2019 to the second quarter of 2020.
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Mikaela Senator, Investor Relations Manager
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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