CBRE Global Investors funds Stockholm apartment development
CBRE Global Investors, on behalf of one of its pan-European funds, has agreed the forward funding and acquisition of a 10,005-square-meter (6,217-square-foot) private rented sector (PRS) development in Greater Stockholm from Magnolia Bostad.
Due for completion in 2023, the project in Ursvik Sundbyberg will deliver 200 apartments to Stockholm’s rental market, alongside 73 car parking spaces and 269 square meters (2,895 square feet) of commercial space. The apartments will be an average of 48.4 square meters (521 square feet) in size and will benefit from an attractive level of fit out and amenities, including washing machines and dishwashers; most will also have a balcony.
Located approximately 9 kilometers (5.6 miles) from central Stockholm, Ursvik is a popular residential location that is set to benefit from planned further development in the coming years and a forthcoming tram extension connecting Bromma with Kista.
Andreas Norberg, head of investment ope