Heimstaden AB Group takes over sister company in $3.5b deal

Heimstaden AB has expanded its cooperation with Alecta in the jointly owned company Heimstaden Bostad AB and taken over the sister company Fredensborg Eiendomsselskab’s properties in Norway.

Heimadaden Bostad acquired Heimstaden AB’s existing property portfolio in Copenhagen, which consists mostly of owner-occupied apartments in central Copenhagen and Fredriksberg. The real estate value of the Danish real estate portfolio amounts to approximately SEK 5.4 billion ($640 million).

Heimadaden Bostad acquired Heimstaden AB’s ongoing construction project in Örestaden Copenhagen (Ö-huset), where Skanska has 300 apartments with commencement of occupation in first quarter 2018. The project value is approximately SEK 1.2 billion ($140 million).

Heimadaden Bostad acquires Heimstaden AB’s Swedish housing stock with properties in Malmö, Uppsala, Norrköping, Ystad, Falköping and Värnamo with a total property value of SEK 3.5 billion ($420 million). The real esta