Barings enters Swedish residential market with €128m deal

Barings Real Estate has acquired six high-quality residential buildings in Stockholm, Sweden, through a forward commitment. The buildings will be developed over five phases and will comprise 610 apartments for rent in the Bromsten area.

The €128 million ($144 million) investment is part of the company’s pan European core investment strategy on behalf of institutional investors.

The seller is a joint venture between Slatto VII and Fastpartner.

The apartments will be built to high quality, with on-site car parking for approximately 300 vehicles. Public transportation can easily be reached by the commuter train and bus transfer hub at Spanga Station.

Construction is expected to commence in early 2019 with completion in 2022.

“This is a rare opportunity to access the Stockholm residential rental market with new purpose-built buildings in a strong location,” said Staffan Unge, Barings managing director and real estate country head for Sweden.