Magnolia Bostad sells 436 rental apartments to SPP Fastigheter

Magnolia Bostad acquires building rights for approximately 700 homes in central Södertälje. At the same time, the company sells 436 rental apartments that are to be developed on approximately two thirds of the property to SPP Fastigheter AB (publ). Total property value at completion of this first phase of the project is estimated at approximately SEK 750 million. Local planning work is underway for the remaining part of the property, which will include some 260 rental and tenant-owned apartments.

The project is located a few hundred meters north of Stortorget, one block from the Södertälje canal, and is one of the largest housing development projects in Södertälje. First occupancy is estimated to take place in 2018.

Wistrand have acted as advisors for Magnolia Bostad and Linklaters have represented the buyer, SPP Fastigheter. Cushman & Wakefield and Advokatfirman Lindahl have acted as advisors to the seller of the building rights, Acturum Real Estate AB.
     

For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47,
fredrik.lidjan@magnoliabostad.se 

Marita Loft, CEO Storebrand Fastigheter
+46 70 960 54 64, marita.loft@storebrand.no
      
 

Magnolia Bostad develops efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. 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. 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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