Heimstaden Divests Icelandic Portfolio
Heimstaden AB has today agreed to divest 100% of the shares in the Icelandic residential real estate company Heimstaden ehf. to Fredensborg AS. The transaction will close in October 2023.Heimstaden ehf. is the largest residential real estate company in Iceland with appr. 1,625 homes and ongoing projects of 41 units, located primarily in Reykjavik and its surrounding areas. As of June 30, 2023, its property book value stands at approximately SEK 6.0 billion (ISK 75.4 billion). In 2021, Heimstaden AB acquired Heimstaden ehf. from Fredensborg AS, achieving an annualised return on investment