Barings has acquired an existing industrial asset in Sweden, on behalf of a US insurer, which will be demolished and transformed into a 262-unit residential complex.

Barings said it has agreed to buy the 12,500sqm residential project in Åkersberga, Greater Stockholm, which will comprise nine buildings.

The project, managed by partner Innovation Properties, has the necessary approvals to begin construction, with phased completion scheduled from mid-2027 to mid-2028.

Andreas Norberg, managing director and country head Nordics at Barings Real Estate, said: “This landmark transaction in Åkersberga underscores our conviction in the Swedish residential sector and our commitment to delivering high-quality, sustainable homes in undersupplied markets. Working alongside Innovation Properties, we look forward to transforming this site into a vibrant new community.”

Gunther Deutsch, managing director, head of European transactions and country head Germany at Barings Real Estate, said: “The Åkersberga project is a testament to our ability to source and execute complex, off-market transactions in Europe’s most dynamic markets.

“We continue to see strong appetite for residential assets and remain focused on expanding our portfolio across the region.”

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