Magnolia Bostad signs agreement with Helsingborg Municipality and sells 345 rental apartments to SPP Fastigheter
Magnolia Bostad has signed a land transfer agreement with the Helsingborg Municipality concerning the properties Antikvarien 1 and Arkeologen 1 in Maria station, Helsingborg. The company also signed an agreement with SPP Fastigheter AB (publ.) concerning the sale of 345 rental apartments that are to be developed on the properties. The property value at completion amounts to approximately SEK 550 million.
In 2015, Magnolia Bostad won a land allotment completion for the properties, which are part of the Maria station development project, and entered a land allotment agreement with the municipality. Magnolia Bostad is developing the project in its entirety and the new homes will be will be environmentally certified according to the Swedish environmental standard Svanen. The buildings will be built by Veidekke Entreprenad AB and construction is estimated to start this fall.
The land transfer agreement is expected to go into effect within approximately four weeks and is a prerequisite for the agreement with SPP Fastigheter.
For more information, please contact:
Fredrik Lidjan
CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se
Marita Loft
CEO, Storebrand Fastigheter
+46 70 960 54 64
marita.loft@storebrand.no
Magnolia Bostad was founded in 2009 with the vision of creating modern homes and residential environments through smart functions and attractive architecture. The company develops new housing, both rental apartments and tenant-owned apartments and hotels, mainly in attractive locations in Sweden’s larger cities and regional capitals. We operate with a holistic view that aims to achieve long-term sustainable development for the society at large.
Magnolia Bostad is listed on Nasdaq First North. Erik Penser Aktiebolag is engaged as the Certified Adviser for the Company.
More information about Magnolia Bostad can be found at www.magnoliabostad.se
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