Skanska sells multi-family development in Washington, D.C., USA, for approximately USD 141 M, about SEK 1.3 billion

Skanska has divested its multi-family development RESA in Washington, D.C., USA to Northwestern Mutual for approximately USD 141 M, about SEK 1.3 billion. Skanska USA Commercial Development will record the transaction in the second quarter of 2019 and the transfer of the property will occur in June 2019.

Skanska developed and built RESA, a 12-story, 326-unit luxury apartment building in the NoMA neighborhood in Washington, D.C. Construction of the LEED Gold project began in October 2016 and was completed in the second quarter of 2019.

Since 2009, Skanska has invested more than USD 2 billion in the U.S. in office and multi-family projects, and has developed office headquarters for tenants including, Waste Management Inc., Bank of America, Brooks Sports, PricewaterhouseCoopers and Tommy Bahama.

Skanska is one of the leading development and construction companies in USA, specialized in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 67 billion in 2018 and had about 9,000 employees in its operations. 

For further information please contact:

Beth Miller, Vice President Communications, Skanska USA, tel: +1 917 438 45 23

Jacob Birkeland, Head of Media Relations, Skanska AB, tel: +46 (0)10-449 31 34

This and previous releases can also be found at www.skanska.com

Skanska is a world leader in construction and project development on select markets in the Nordic region, Europe and USA. Driven by the Group’s values, Skanska wants to contribute to a better society. Skanska provides innovative, sustainable solutions for both simple and complex assignments. Skanska has about 38,000 employees, and 2018 revenue totaled SEK 170 billion.