SBB and Magnolia Bostad to develop 2,550 rent regulated residentials in Stockholm, Helsingborg and Norrköping
Samhällsbyggnadsbolaget i Norden AB (publ) (”SBB”) and Magnolia Bostad form a 50/50 joint venture (“JV”) for the development of investment properties. The JV will acquire five projects consisting of around 2,550 rent regulated residentials from Magnolia Bostad and SBB. SBB is also acquiring two elderly care homes located in Nacka and Östersund from Magnolia Bostad. SBB is selling one project in Norrköping to the JV, and Magnolia Bostad is selling four projects located in Huddinge, Nacka, Sollentuna and Helsingborg. The JV will be responsible for the future construction financing. SBB