Magnolia Bostad sells 346 residential units to Heimstaden Bostad
Magnolia Bostad is selling 346 residential units in Handen, Haninge Municipality to Heimstaden Bostad. The estimated property value upon completion will be around SEK 850 million.
The sale is taking place as a corporate transaction and refers to the Haninge Söderbymalm 3:541, 3:542 and 3:543 properties. The project, that has a zoning plan in force, consists of apartment blocks in two areas with residential units, commercial premises and a garage. A turnkey contract has been signed with Consto and the buildings will be certified in accordance with the Swedish Green Building Council’s silver certification. After the sale and handover of the project, Magnolia Bostad has a project management agreement with the buyer that runs until occupancy. The project management agreement is invoiced and revenue reported on an ongoing basis.
"We are pleased with the acquisition in Haninge, and we have the opportunity of contributing to the municipality's growth and attractiveness, while we broaden our portfolio and strengthen our presence in the Stockholm region. The production also reflects our environmental focus as the property will be built according to the Swedish Green Building Council’s silver certification,” says Tom Rasmussen, Senior Investment Manager at Heimstaden Bostad.
"This will be another project where we are building attractive housing with Heimstaden Bostad, both close to nature and with good public transport. It is exciting to see how our collaboration is growing, and we are now developing a lot of residential units around Sweden," says Björn Bergman, Eastern Regional Manager.
The housing project is close to nature with a foot- and cycle bridge to Rudan recreation park near the housing project. It is also in walking distance to Haninge Centrum and the commuter train station, from which Stockholm city centre can be reached in 30 minutes. Development of the project began as a development for self-management, which means that the profit from the transaction will be reported as change in value of investment properties.
Wigge & Partners has been an adviser to Magnolia Bostad.
For more information, please contact:
Björn Bergman, Eastern Regional Manager.
+46 70 968 15 82, bjorn.bergman@magnoliabostad.se
Marita Björk, IR and Financial Media Manager
+46 72 720 00 06, marita.bjork@magnoliabostad.se.
Magnolia Bostad AB, CIN 556797–7078, is a leading urban developer that develops new residential properties primarily rental apartments but also tenant-owned apartments, community service properties and hotels, in attractive locations in Sweden's growth areas and major cities. Housing is being developed both for sale and for self-management. Our work is based on a holistic approach where the operations are conducted in a way that promotes long-term, sustainable urban development. Magnolia Bostad's shares (MAG) are listed on Nasdaq Stockholm. More information is available at www.magnoliabostad.com/en
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