Heimstaden Bostad Expands in Linköping
Heimstaden Bostad acquires 1,118 residential units for SEK 2.5 billion in Linköping from municipal housing company Stångåstaden, and significantly strengthens its presence in the region. The transaction closes July 2021 and will be financed through debt and equity.
Linköping is the fifth largest city in Sweden, known for its university and booming tech industry. The municipality shares Heimstaden’s ambitions for sustainable development and aims to be carbon-neutral by 2025. Coupled with forecasted population growth, this makes Linköping an attractive region for sustainable residential real estate investments.
“We are pleased to increase our presence in the attractive and fully regulated Swedish housing market. The portfolio is well-managed, and we look forward to integrating it with our existing 1,500 apartments in Linköping,” said Fredrik Årman, Head of Transactions at Heimstaden Sweden.
The portfolio consists of 21 properties that comprises 1,118 regulated residential units (75,000 sqm) and 38 commercial units (2,500 sqm), including housing for elderly and student housing.
Gross rental income p.a. is SEK 101 million (SEK 94 million from residentials) with an annual net operating income of SEK 66 million based on the current occupancy rate of 99.6%.
“We look forward to meeting Stångåstaden’s expectations for continued high customer satisfaction and to be a positive contributor to the municipality’s sustainable development. Through our Friendly Homes concept, we will work to ensure thriving communities and neighbourhoods in Linköping for many years,” said Patrik Hall, CEO at Heimstaden.
Also commenting on the transaction, Fredrik Törnqvist, CEO at Stångåstaden said:
“This sale enables us to maintain a high pace in building new homes to mitigate Linköping’s housing shortage. Heimstaden is a long-term and customer-centred company, and we are confident that tenants will continue to have a responsible and attentive landlord.”
Heimstaden Bostad was advised by Mannheimer Swartling (legal).
Contacts:
Christian V. Dreyer, CCO
+47 907 24 999
christian.dreyer@heimstaden.com
Magnus Granerød, IR Manager
+47 922 38 407
ir@heimstaden.com
About Heimstaden Bostad
Heimstaden Bostad is a leading residential real estate company in Europe, which buys, develops and manages homes. Through our values Care, Dare and Share, we create value for owners and Friendly Homes for customers. We own about 114,000 homes with a property value of SEK 179 billion. The head office is in Malmö. Read more at www.heimstadenbostad.com.