Acquires portfolio of 126 rental apartments in Umea

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KlaraBo acquires a residential portfolio in Umea of a total of 126 rental apartments with an underlying property value of SEK 175 million. The total area amounts to approximately 8,700 sqm and the portfolio will be taken over today.

The property portfolio is centrally located in Umea and fully rented. The rental value amounts to SEK 10.2 million and consists almost exclusively of residential and parking income. The acquisition is financed by bank loans and own cash. The acquisition also means that KlaraBo will establish itself in a new location for the company.

"It feels good to jumpstart the year with another transaction. Umea is a dynamic university city where we are happy to continue to expand, not least given the many industrial investments planned in Northern Sweden in the coming years," says Andreas Morfiadakis, CEO of KlaraBo. 

The buildings were constructed in the 1960s and 90s which is why there will be a need to upgrade and refine the properties in line with KlaraBo’s business model. 

The transaction is in line with KlaraBo's business model, which is focused on acquiring and managing properties with development potential. The deal is also a testament to KlaraBo's ability to identify and execute off-market transactions.

For more information:
Andreas Morfiadakis, CEO KlaraBo
andreas.morfiadakis@klarabo.se
+46 76 133 16 61

About KlaraBo
KlaraBo is a real estate company that acquires, builds, owns and manages attractive residential properties. The company was founded in 2017 and operates throughout the country. The strategy is to acquire existing residential properties as well as land for new construction in regions with population growth and a strong labour market. Our newly constructed apartments are developed in-house and space efficient, which contribute to reasonable rents. Both apartments and buildings are designed in collaboration with the municipality to fit local needs. With wood as the main building material, the new construction holds a high environmental standard. KlaraBo is a long-term property owner. KlaraBo is listed on Nasdaq Stockholm and is traded under the ticker KLARA B.