Slättö assumes possession of Magnolia Bostad’s project in Karlstad

Today, November 16th, Slättö assumes possession of the plot of land in Southeast Karlstad acquired by Magnolia Bostad earlier this autumn. The agreement covers some 200 rental apartments with a property value of approximately SEK 360 million at completion.

In addition to these 200 rental units, Magnolia Bostad will construct 100 tenant-owned apartments at Kanikenäsholmen. The new neighbourhood is situated next to Karlstad’s old shipyard, on the shore of lake Vänern and within easy walking distance of Karlstad city centre.

Construction is tentatively planned for the first quarter of 2016, with initial occupancy in early 2017. Magnolia Bostad has signed a construction agreement with Byggbolaget i Värmland for the project.

– Kanikenäsholmen is a good example of how Magnolia Bostad operates. We seek to develop new neighbourhoods with a larger share of rental apartments and a smaller share of tenant-owned units, allowing us to achieve profitable growth with a limited risk, says Fredrik Lidjan, CEO of Magnolia Bostad.

For more information, please contact:
Fredrik Lidjan, CEO
+46 70 223 43 47
fredrik.lidjan@magnoliabostad.se

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, 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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