CBRE Global Investors JV acquires 189 units in Stockholm

CBRE Global Investors, on behalf of European Value Partners 2 (EVP2) with their joint venture partner Estea, has agreed to the forward funding and acquisition of a residential apartment building in Stockholm, from developer Magnolia Bostad.

The 8,9000-square-meter (tk-square-foot) residential block will comprise 189 units, and the build-to-rent project is expected to be completed in 2023.

The asset is located in the Enköping municipality and is located 40 minutes away from Stockholm Central Station by train. It is part of a new development area, which is located a short walk away from central Enköping. The new area will feature 900 residential units, retail shops, a preschool and a retirement home. Since 2010, Enköping has had the highest population growth in Uppsala County, at 16.5 percent, which is also above the national population growth rate.

Christina Forrest, fund manager, EVP2, CBRE Global Investors, said, “With the continued housing supply shortage