SPP Fastigheter assumes possession of Magnolia Bostad’s project in Limhamn
Today, December 15th, SPP Fastigheter AB (publ) assumes possession of the plot of land in Limhamns läge, Malmö, acquired by Magnolia Bostad in early December. The agreement covers some 280 rental apartments with a property value of approximately SEK 500 million at completion.
Limhamns läge is presently one of Malmö’s largest housing development areas. The new neighbourhood was originally an industrial area and has a fantastic location by Öresund. Here, in close proximity to the sea, a new residential area is being developed and will consist of some 1,500 homes, as well as schools, preschools, shops and parks.
Magnolia Bostad is the project’s sole developer, and the first phase of occupancy is expected during 2018.
“It pleases me to be able to announce this agreement. It marks the starting point of a collaboration that we expect will lead to several similar deals between Magnolia Bostad and SPP Fastigheter,” says Fredrik Lidjan, CEO of Magnolia Bostad. “The agreement is favourable for all parties: the Municipality and the tenants achieve a stable landlord with a long-term perspective, SPP Fastigheter gains access to an excellent investment property and Magnolia Bostad establishes a long-term collaboration with a well-established market player.”
“We are very happy to have concluded this agreement with Magnolia Bostad on behalf of SPP Fastigheter. At present, we have two commercial properties in Malmö in our possession and the acquisition of this project further strengthens our presence in the region. We appreciate the possibility to acquire an environmentally sound residential project,” says Marita Loft, CEO of Storebrand Fastigheter.
For more information, please contact:
Fredrik Lidjan
CEO, Magnolia Bostad
+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, 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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