CBRE Global Investors' European Value Partners 2 (EVP2) fund and joint venture partner Estea, have agreed the forward funding and acquisition of a residential apartment building in Stockholm, Sweden from Magnolia Bostad. Financial details were not disclosed.
The 8,900 m2 residential block will comprise 189 units and the build-to-rent project is expected to be completed in 2023. The building will be certified Miljöbyggnad Silver which is the Swedish system for environmental certification. It has been developed by the Sweden Green Building Council, the largest organisation in Sweden for sustainable community buildings.
The asset is located in the Enköping municipality and is located 40 minutes away from Stockholm Central Station by train. It is part of a new development area featuring 900 residential units, retail shops, a preschool and a retirement home.
CBRE Global Investors and Estea have already bought together two housing projects, in Sigtuna and Lund and this is the two partners' 's third project.
Linklaters acted as legal advisor to Mästerbo.
