Acquires property in Malmö for SEK 28 million for residential conversion

KlaraBo has signed an agreement to acquire an empty project property that previously served as a nursing home in central Malmö. The purchase price amounts to SEK 28 million and the purpose is to convert the property into housing.

The property was built in the 1990s and has previously housed 24 small apartments and common areas. After completed renovation and conversion, the property will house a total of 30 smaller apartments with an estimated rental value of approximately SEK 2 million.

"We continuously identify new opportunities both in the existing portfolio and possible acquisitions for conversion or property enhancements in other ways. These can be both larger and smaller property projects where we see potential for value creation. The property in question is centrally located in Malmo and fits well into our existing management philosophy," says Andreas Morfiadakis.

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.