PATRIZIA AG has acquired a residential development project in Malmö, Sweden, in the attractive suburb of Hyllie from Slättö, a real estate fund manager specializing in the Swedish market, for €100 million ($118 million).
Scheduled to complete in fourth quarter 2021, the development will deliver 427 modern residential units comprising one- to four-bedroom apartments for rent. The building will also receive a “Green Building Silver” certification according to the Swedish Green building council.
Hyllie is a well-known residential and commercial district in the south of the city. The development is strategically located in close proximity to the Emporia Shopping Centre and benefits from excellent transport links via the nearby Hyllie railway station.
Johan Lagerdahl, country manager and head of asset management for PATRIZIA in Sweden, said, “The defensive profile of the Swedish residential sector means that we will be able to deliver secure and stable inc
