Wallenstam becomes joint owner in Colive
Wallenstam is becoming a 25-percent joint owner in Colive through a new issue. Colive is one of Sweden’s first operators of co-living housing through so-called “co-living hubs”.
Colive and Wallenstam have already collaborated on projects in both Stockholm and Gothenburg.
Firstly, in the development of Colive Parkstråket, Sweden’s largest co-living hub in Haninge, where letting will start during the fall. Secondly, through an agreement to develop a co-living hub for 117 tenants in Kallebäcks Terrasser, one of Gothenburg’s largest urban development areas.
“We want to meet the increased interest that we see for new housing solutions. With this investment, we can help Colive to boost the growth rate and carry out a number of planned large-scale establishments together with us and other strategically important partners,” says Hans Wallenstam, CEO of Wallenstam.
“We are in a very exciting phase where we are approaching the launch of Sweden’s largest co-living hub in Haninge, and we are now also gearing up for future projects. Today's news means that we can take further steps with our ambitious growth plan and product innovation. I am proud to be able to welcome such a long-term and strategic investor,” says Katarina Liljestam Beyer, co-founder and COO of Colive.
Colive was founded in 2018 and since then has launched two co-living hubs in Stockholm, with about ten more projects in progress around the country. The goal is ambitious and by 2025, Colive expects to have 7,000 apartments in Sweden.
For further information, please contact:
Susann Linde, CFO and Head of IR, Wallenstam AB, tel. +46 8 31 20 00 00 or +46 705 17 11 34
Jimmy Hagelfors, Marketing Manager, Colive, tel. +46 739 49 55 15
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 52 billion and the customer base consists of just over 9,000 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.