Nordic property player Heimstaden has inked a deal to acquire 13 properties in Ystad, Sweden for €75 mln and five properties in Copenhagen, Denmark for €61 mln.
The 13 properties in Ystad comprise 449 apartments and some commercial retail premises, purchased from Brogripen. The total area is approximately 38,000 m2 with an occupancy rate of 99.5% for a total of SEK 41 mln (€4 mln) in rental income.
'It feels very good to be able to complement our earlier acquisition in Ystad with these high quality properties. We already have a portfolio consisting of 755 apartments in the city. With this acquisition our stock in Ystad consists of 1,204 apartments and we have started with the establishment of a full-scale management unit, which will increase our local presence and provide a better service,' commented Fredrik Arman, senior investment manager at Heimstaden.
At the same time Heimstaden purchased five properties in Copenhagen, comprising 109 apartments, in an all-equity deal for DKK 455 mln (€61 mln). The sellers were LB Forsikring and Semen Ejendomsaktieselskab. Four of the five properties have tenants first refusal in accordance with Danish law.
The total living space is approximately 19,750 m2 with an occupancy rate of about 97%.
'We now add additional well located housing units in the Danish capital to our portfolio. Following the acquisition, we own about 1,200 condominiums and believe in a continued positive market development in Copenhagen,' said Magnus Nordholm, EVP of Heimstaden.
