Wallenstam acquires project close to the city in Stockholm

Wallenstam is acquiring a project close to the city in Stockholm from Ikano Bostad. The project has a completed zoning plan and the planned production start is already in 2023. In connection with the transaction, Wallenstam is also selling a portfolio of residential properties in Gothenburg and Partille to Ikano Bostad.

“It feels fantastic that we have had the opportunity to acquire this project close to the city with a complete zoning plan and ready building rights! The project is located very close to Södermalm, between Liljeholmskajen and Årstafältet urban development area. We will now be able to provide many new homes there, and we hope to get started with production already during 2023,” says Hans Wallenstam, CEO Wallenstam AB.

The project is located in direct proximity to Årstaberg light rail and commuter train station and consists of approximately 34,000 sq m of habitable gross floor area, of which 3,750 sq m is habitable gross floor area for commercial purposes. This corresponds to about 350 apartments and commercial floor space in the form of two nursery schools, among other things. The seller is Ikano Bostad, which in the same transaction is also acquiring a portfolio of residential properties including just over 600 apartments in total in Gothenburg and Partille from Wallenstam.

“It is nice to be able to pass on the baton to a good property manager, which will also ensure quality as well as a long-term approach for our customers in the future,” says Hans Wallenstam, CEO Wallenstam AB.

The project property is being acquired through a company transaction for an agreed property value of SEK 750 million. The residential properties are being sold for an agreed property value of SEK 1,360 million in total, where most of the properties are being sold through company transactions.

The provisional date for taking possession is November 1, 2022, for the project property and for all of the residential properties except for Kvillebäcken 5:6. A reconstruction project is currently underway in the property where Wallenstam is adding 18 apartments that are expected to be completed in the third quarter of 2023, which is also the provisional date for taking possession of the property.

The sale includes the following properties:

• Göteborg Brämaregården 15:17, 19:2, 30:3, 42:11, 42:12, 44:11
• Göteborg Kvillebäcken 5:6
• Göteborg Kålltorp 36:15, 57:1, 57:2
• Göteborg Lunden 13:2, 16:7
• Göteborg Majorna 332:6, 332:9
• Göteborg Olskroken 11:8
• Göteborg Rambergsstaden 25:3, 28:1, 28:2, 32:2
• Göteborg Sannegården 20:2, 20:3, 21:39, 21:41, 21:42
• Partille Stärtered 1:21, 1:22, 1:23, 1:28

For further information, please contact:
Susann Linde, CFO and Head of Investor Relations Wallenstam AB (publ) tel. +46 31 20 00 00 or +46 705 17 11 34

www.wallenstam.se

Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holding is valued at around SEK 64 billion and the customer base consists of around 11,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable electrical energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.