Heimstaden Buys SEK 3.8 billion Icelandic Property Portfolio
Heimstaden AB (publ) (“Heimstaden”) has today acquired 100% of the shares in Icelandic residential company Heimstaden ehf. from Fredensborg ICE ehf. for SEK 1.7 billion (ISK 24.9 billion).Heimstaden ehf. is the largest residential real estate company in Iceland with 1,637 homes located primarily in and around Reykjavik with a property value of approximately SEK 3.8 billion (ISK 55 billion) as of 31 March 2021. The portfolio has a GRI of SEK 260 million p.a. and current occupancy of 90%. Heimstaden ehf., previously Heimavellir hf., was acquired by Fredensborg ICE ehf., a fully owned