Fabege transfers a property in Östermalm to joint-owned housing development company
As announced earlier, Fabege and Oscar Properties Invest AB have formed a joint venture for the development of tenant-owner flats in Stockholm. The company will acquire properties for new builds or conversion of existing buildings into residential units, which will then be transferred to tenant-owner associations. Fabege has transferred the Guldfisken 18 property to the development company with takeover on 1 November 2010. The purchase consideration is SEK 215m. Since this amount corresponds to the most recent market valuation, the sale will not generate any realised profit. “We are