Sveafastigheter divests building rights for townhouses in Vällingby Parkstad to ALM Equity

Sveafastigheter has signed an agreement to divest building rights for townhouses in Vällingby Parkstad. The buyer is ALM Equity AB. Closing is planned to take place during the first quarter of 2014.

The area that is now divested is a part of the property Vattenfallet 2. From 1959 until the end of 2012 electricity generator and heat producer Vattenfall was headquartered in the property. Since summer 2011, a conversion of the whole area into a residential area with a high degree of local services and activities is ongoing. The total development covers 160.000 sqm, of which approximately half consists of existing buildings and the rest is new development. Both JM and Peab are already established in the area and moreover Sveafastigheter, together with Einar Mattsson, is developing 460 rental apartments to Alecta. The new area is called Vällingby Parkstad.

– It feels very satisfying that ALM Equity wants to continue developing the area that we started creating when Vattenfall decided to relocate. It gives recognition to the work we have done so far. Within two to three years we will be able to visit a new neighbourhood that we can be proud to have been involved in creating, says Erik Widmark, Director at Sveafastigheter.

For comments and further information, please contact:

Erik Widmark, Director, Stockholm, Sveafastigheter, phone +46 8 545 075 06, erik.widmark@sveafastigheter.se

Sveafastigheter

Sveafastigheter is a leading Nordic property fund manager. The company was founded in 2003 and currently manages assets in Sweden, Finland, Denmark and Estonia worth in total EUR 1.3 billion. Its latest fund, Sveafastigheter Fund III, has EUR 317 million of equity commitments.

Sveafastigheter is headquartered in Stockholm with offices in Helsinki and Malmö.

Tags: