Transactions - NOVEMBER 29, 2016

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Slättö to acquire $1.54b Swedish residential portfolio

by Andrea Waitrovich

Swedish residential development fund Slättö has created a partnership with listed house builder Magnolia Bostad to acquire Swedish residential development projects worth a minimum of SKr 5 billion ($541 million) up to a total value of SKr 14 billion ($1.54 billion).

The project portfolio, which is concentrated in Stockholm, Uppsala and Öresund, includes 13 projects of 4.8 million square feet, corresponding to approximately 7,000 apartments.

More than half of the projects are in Magnolia Bostad’s existing portfolio, and the remainder has not yet acquired the potential building rights.The framework agreement extends to March 31, 2020, with an extension option and is subject to Slättö obtaining the necessary financing.

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