Magnolia Bostad sells 454 apartments to SEB’s newly established housing fund Domestica Bostäder III
Magnolia Bostad sells 454 rental apartments on part of the property Uppsala Kungsängen 25:1 (second block of the Senapsfabriken project) to SEB’s housing fund Domestica III. The letter of intent concerning the agreement was signed on December 23, 2015. The sale is made through company transfers at a price of approximately SEK 340 million. The property value at completion will be approximately SEK 1 billion. The deal is conditional upon the buyers’ financing.
The property is situated in central Uppsala and the whole neighbourhood is being developed into a residential area. The new homes will be developed with a clear focus on sustainability and energy efficiency and will undergo environmental certification. According to plan, the ground floor facing Kungsgatan will house business premises primarily intended for stores and services.
NCC has been selected as building contractor and construction start is estimated to take place in Q3 2016.
For more information, please contact:
Fredrik Lidjan, CEO Magnolia Bostad
+46 70 223 43 47, fredrik.lidjan@magnoliabostad.se
Richard Gavel, Portfolio Manager SEB Real Estate
+46 8 763 98 73, richard.gavel@seb.se
Björn Arvidsson, Portfolio Manager SEB Real Estate
+46 8 522 95 91, bjorn.arvidsson@seb.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. Erik Penser Bank is the Certified Adviser for the Company. More information is available 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 28 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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