Aros Bostad evaluates the opportunity to divest a large project portfolio of rental apartments
Considering the currently strong investor market, Aros Bostadsutveckling AB publ (”Aros Bostad”) intends to explore the possibility to divest a large project portfolio of residential units for rental purpose. By divesting parts of the project portfolio as rental apartments, cash flow can be brought forward and the development of future projects in the pipeline can be accelerated and optimized in time.
Magnus Andersson, CEO Aros Bostad says:
”By being close to the market and constantly evaluate our building rights portfolio, we can match current demand and create the best possible investor return at minimum risk, at the same time as we further strengthen the pre-requisites for our tenant owned residential projects. A divestment of the selected residential projects means that we can bring forward the start of several future development projects and thereby increase the number of units in production.”
Aros Bostad has a well-balanced and flexible project portfolio of approximately 4,800 building rights, acquired at attractive values. The portfolio, which is subject for divestment, comprises residential projects amounting to 900 – 1,000 rental apartments in Solna, Danderyd, Täby, Nacka and Huddinge. Aros Bostad will carry out the development of all rental apartments. Tango acts as adviser in the divestment process.
Aros Bostad’s Certified Adviser for Nasdaq First North Growth Market is Erik Penser Bank. Financial information is to be found at www.arosbostad.se/investerare
This disclosure contains information that Aros Bostadsutveckling AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-12-2021 15:00 CET.
For more information, please contact:
Magnus Andersson, CEO, e-mail: magnus.andersson@arosbostad.se, phone: +46 8 400 230 50
Ken Wendelin, CFO/Deputy CEO, e-mail: ken.wendelin@arosbostad.se, phone: +46 73 518 02 70
Anna Åkerlund, Head of Communications & IR, e-mail: anna.akerlund@arosbostad.se, phone: +46 70 778 28 97
Certified Adviser, e-mail: certifiedadviser@penser.se, phone: +46 8 463 83 00
About Aros Bostad
Aros Bostad is a residential developer within the Stockholm area focusing on developing modern, functional and sustainable residential housing in attractive geographical areas, with timeless choices of materials and designs. The Company acquires and develops land into building rights and subsequently into residential housing. With a long-term perspective and responsibility for the entire value chain, Aros Bostad creates a safe deal for home buyers as well as stable returns for the investors.
The Company was founded in 2006 and its primary geographical market is the greater Stockholm area and Uppsala. Aros Bostad had, as per Q3 2021, a total of 30 residential development projects in different stages of development corresponding to ca 4,800 units. Aros Bostad is listed on Nasdaq First North Growth Market. The Certified Adviser for Nasdaq First North Growth Market is Erik Penser Bank. Financial information is to be found at www.arosbostad.se/investerare