Magnolia Bostad acquires land in Uppsala and sells approximately 325 rental apartments
Magnolia Bostad acquires an area of land in the Nyby neighbourhood in Gamla Uppsala, where the company is planning to build approximately 400 homes. The company has also signed an agreement with SEB’s residential fund Domestica II for the sale of some 325 apartments. These are to be developed as rental apartments.
In addition to the 325 rental apartments, the company plans to construct some 75 modern and space-efficient tenant-owned apartments in the area.
Situated in Northern Uppsala, Nyby offers proximity to beautiful nature and a pleasant mix of older and newer buildings. The new project will complement the area with a modern and up-to-date architecture and contribute to a varied urban environment. The intended target group for the new homes are people who are 55 or older. Uppsala City Centre is only a 15-minute bus trip away, and by car you can reach the E4 and Gränby Centre in a few minutes.
“This is the third transaction we conclude with SEB. It is a natural progression of our cooperation and I am convinced that we will find further projects to participate in together in the future,” says Fredrik Lidjan, CEO of Magnolia Bostad.
The new homes will be developed with a clear focus on sustainability and energy efficiency and will undergo environmental certification. Construction start is estimated to take place in Q2 2016 and the first phase of occupancy is expected during the last six months of 2017. Sales of the tenant-owned apartments are expected to be initiated during 2016.
For more information, please contact:
Magnolia Bostad
Fredrik Lidjan
CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se
Domestica II, SEB Real Estate
Richard Gavel
Portfolio Manager
+46 8 763 98 73
richard.gavel@seb.se
Magnolia Bostad was founded in 2009 with the vision of creating modern homes and residential environments through smart functions and attractive architecture. The company develops new housing, both rental apartments and tenant-owned apartments, mainly in attractive locations in Sweden’s larger cities and regional capitals. We operate with a holistic view that aims to achieve long-term sustainable development for the society at large.
Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is engaged as the Certified Adviser for the Company.
More information about Magnolia Bostad can be found at www.magnoliabostad.se
SEB Real Estate is part of SEB's asset management operations and manages directly owned properties with a total value of approximately SEK 26 billion. The team provides investors discretionary portfolio management and client-tailored property funds that feature directly owned real estate properties as the underlying asset type.
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