Magnolia Bostad sells 275 apartments in Arlöv city centre
Magnolia Bostad sells the project Fasanen, located in central Arlöv, Burlövs municipality, comprising of approximately 275 apartments. The sale comprises the properties Burlöv Arlöv 20:58 et al. and the property value at completion is estimated to approximately SEK 470 million.
The buyer is a Nordic Real Estate investor and the sale is made through company transfers. The sale is conditional on the buyers financing.
Serneke is signed as contractor and construction start is planned for the first quarter of 2018. Magnolia Bostad will develop and manage the project all the way through, until the homes are ready for occupancy, which is expected to take place from the third quarter of 2019 to the second quarter of 2020.
The project is located in close proximity to Arlöv Centrum and close to Burlöv Center where a wide range of services and commerce are offered. Burlövs municipality, which is the neighboring municipality of Malmö, offers good communications with direct connections with both trains and cars and bicycle into central Malmö.
The project was designed by the Arkitektlaget in Skåne and will consist of five white plaster buildings with a varying red brick base with balconies and large green areas for social gatherings.
Legal advisor to Magnolia Bostad was Wistrand.
For more information, please contact:
Erik Rune, Vice President and Head of Business Development
+46 73-399 40 30, erik.rune@magnoliabostad.se
Mikaela Senator, Investor Relations Manager
+46 70-775 57 57, mikaela.senator@magnoliabostad.se
Magnolia Bostad develops new residential properties, including rental apartments, tenant-owned apartments, residential care housing, hotels and student housing, in attractive locations in Sweden’s growth areas and major cities. Our work is based on a holistic approach where the operations are conducted in a manner that promotes long-term, sustainable urban development. Magnolia Bostad's share (MAG) is listed on Nasdaq First North Premier. Erik Penser Bank is the Certified Adviser for the Company. More information is available at www.magnoliabostad.se
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