Nordic-listed Akelius Residential Property has acquired a portfolio of 245 apartments in Stockholm for SEK 535 mln (€55 mln).
The portfolio consists of five properties, built between 1930 and 1956. The assets are centrally located in Stockholm and Solna, a municipality in the Greater Stockholm area, close to shops and restaurants as well as public transportation.
The vendor was not disclosed in the transaction that is scheduled to close on 16 December.
'Stockholm has a strong population growth and the risk of vacancies is minimal. We would like to acquire more properties there', said Akelius CEO Pål Ahlsén.
Swedish entrepreneur, author and publisher Roger Akelius founded Akelius Residential Property in 1994. His Akelius Foundation holds a 90% stake in the Stockholm-based company, which owns 50,000 apartments in Sweden, Germany, France, the UK, Canada and the US. About 80% of the apartments are located in cities such as Berlin, London, Paris, Stockholm and New York. The total portfolio was valued at €8.2 bn at end-September 2016.
Akelius Residential Property's shares are listed on Nasdaq First North in Stockholm.
