Magnolia Bostad sells more than 300 rental apartments to SEB’s housing fund Domestica II
The properties being sold are Vallentuna-Åby 1:94 and Vallentuna-Åby 1:149, and the sale is made through company transfers at a price of approximately SEK 100 million. Magnolia Bostad will develop and manage the project all the way through, until the homes are ready for occupancy. The property value at completion will be about SEK 500 million. The deal is conditional upon the buyer’s financing.
Åby Ängar is a new residential area, centrally located in Vallentuna and close to Vallentuna Centrum as well as the Roslagsbanan light railway. The project involves space-effective apartments spread over two blocks. The plan includes commercial premises on the ground floor and an underground garage. The buildings will be environmentally certified.
Construction is scheduled to start in the first quarter of 2017 and moving in occurs during 2018-2019.
For more information, please contact:
Fredrik Lidjan, CEO Magnolia Bostad
+46 70 223 43 47, firstname.lastname@example.org
Richard Gavel, Portfolio Manager SEB Real Estate
+46 8 763 98 73, email@example.com
Björn Arvidsson, Portfolio Manager SEB Real Estate
+46 8 522 295 91, firstname.lastname@example.org
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
The Domestica funds are managed by SEB Real Estate, which is part of SEB's asset management division and manages directly owned properties with a total value of approximately SEK 30 billion. The team provides investors discretionary portfolio management and client-tailored property funds that feature directly owned real estate properties as the underlying asset type.