Magnolia Bostad signs agreement to acquire property in Tumba
Magnolia Bostad signs an agreement to acquire the property Tumba 7:241 in Botkyrka Municipality. The property consists of approximately 238,000 sqm of land and Magnolia Bostad will continue the work to develop the local plan of primarily residential purposes.
The acquisition is made through a company transfer and the purchase price will be determined when a revised local plan allowing for residential construction has been approved. The seller is Jernhusen and the deal is conditional upon a decision of the board of Jernhusen AB on April 27, 2017. The deal is also conditional upon the approval of a local plan allowing for construction of a minimal level of habitable gross area.
The property is situated in the residential area Uttran in Tumba, an urban area of Stockholm located about 25 km south of central Stockholm. The area is characterized by apartment buildings and detached houses in a scenic location with woods and small lakes. Tumba has good communications, for example the commuter train from Tumba station.
Legal advisors were Wigge & Partners for Magnolia Bostad.
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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