European residential real estate company Heimstaden has bought a company that owns a SEK3.8bn (€372.2m) Icelandic property portfolio.
Heimstaden said it has invested SEK1.7bn to buy the shares in Heimstaden ehf from Fredensborg ICE ehf.
Heimstaden ehf is the largest residential real estate company in Iceland with 1,637 homes located primarily in and around Reykjavik worth SEK3.8bn.
Heimstaden ehf, which was previously Heimavellir hf, was acquired by Fredensborg ICE ehf last year.
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