Magnolia Bostad sells 325 apartments in Uppsala city centre
Magnolia Bostad sells the southern block of phase 2 of the Senapsfabriken project in central Uppsala. The sale comprises part of the properties Uppsala Kungsängen 45; 1 and 29: 3 and comprises one block of approximately 325 rental units and a parking building of about 165 parking spaces.
The buyer is Heimstaden Bostad and the sale is made through company transfers. The deal is Magnolia Bostads first with Heimstaden Bostad, which is a long-term and stable property owner. The property value at completion is estimated to approximately SEK 800 million.
The Senapsfabriken project consists of a total of 1,800 homes divided into three phases, of which phase 1, comprising 455 apartments, was sold to SEB Domestica III in May 2016.
NCC is signed as contractor and construction start is planned for the third quarter of 2018. Magnolia Bostad will develop and manage the project all the way through, until the homes are ready for occupancy, which is estimated to the second quarter of 2021.
The project is centrally located in Uppsala's southern part, in the Kungsängen district, and is developed in the area of the old Slottsfabriken. Kungsängen is a neighborhood now undergoing a transformation from industrial area into attractive residential area. Residences are developed with a clear focus on sustainability and energy efficiency.
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 efficient, attractive and functional residential properties, including rental apartments, tenant-owned apartments and hotels, in attractive locations primarily in Sweden’s growth areas. 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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