NCC sells housing project to investor in Germany
NCC has sold a 180 apartment housing project in Potsdam in Germany to investor Industria Wohnen to the value of SEK 321 million. The package has been purchased for the specialized property fund, Wohnen Deutschland II.
“The sale of this project situated in the city of Potsdam located southwest of the German capital Berlin is in line with our business development strategy to sell more rental packages to investors and to develop and build sustainable residential areas in urban environments”, says Joachim Hallengren, Business Area Manager of NCC Housing.
The project comprises nine buildings with a total of 180 rental units amounting to a living area of approximately 13,500 square meters. The development is based on NCC’s building systems concept for residential construction with good sustainable performance; enabling a cost effective and high quality production process making affordable rental flats possible. The buildings are according to the energy standard KfW 70 which means that they use 30 percent less energy than legally required. Additionally the buildings have green roofs. The rain water is led back onto the plot into the natural circle.
NCC is responsible for leasing of the apartments for a one year lease guarantee period after completion. Transfer and earnings recognition will occur on completion in the NCC Housing business area, in the fourth quarter of 2015.
The project is situated in the popular north western area of the city of Potsdam where a municipal garden exhibition has been transformed into a public park as well as being in close proximity to historical buildings and the river Havel.
According to a survey conducted by the German market analysis company BulwienGesa, NCC is one of the largest residential developers in Germany.
For further information, please contact:
Joachim Hallengren, Business Area Manager, NCC Housing; tel +46 70 643 95 68
Anna Trane, Press & PR Manager, NCC; tel + 46 70 884 74 69
NCC’s media line: +46 8 585 519 00; e-mail: press@ncc.se, NCC’s image bank
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on May 14, 2014 at 07:30 a m. All of NCC:s press releases are available on www.ncc.se.
About NCC. Our vision is to renew our industry and provide superior sustainable solutions. NCC is one of the leading construction, property development and infrastructure companies in Northern Europe, with sales of SEK 58 billion and 18,500 employees in 2013. The NCC share is listed on NASDAQ OMX Stockholm.