Sweden’s AP3 invests in Stockholm suburb
Sweden-based Rikshem, which is owned by the Third National Swedish Pension Fund (AP3) and AMF, has acquired a stake in a public housing project in Värmdö, Sweden, located just outside of Stockholm.
Rikshem acquired a 49 percent interest in Värmdö Bostäder AB as well as parts of Värmdö’s municipal property portfolio for approximately €144 million ($162.2 million). The portfolio has a total value of €294.3 million ($331.6 million). In addition, Rikshem will construct another 500 housing units on land acquired from the Värmdö municipality.
AP3 and Sveafastigheter entered into a cooperative agreement and established a new property company with a focus on office and retail properties in growing regional cities in Sweden. And Sweden’s AP1 and